Current Affairs - Business - Discussion

HDFC Bank has been granted approval by the Reserve Bank of India (RBI) to acquire up to a 9.5% stake in Kotak Mahindra Bank and other banks through its group entities. This strategic move follows the merger of HDFC Bank with its parent company, HDFC, in July 2023, which expanded its financial portfolio. The approval is valid until January 2, 2026, and aligns with HDFC Bank’s efforts to diversify investments and build stronger partnerships in the financial sector. This initiative also complements the bank's focus on enhancing deposits and managing its loan-to-deposit ratio.