TIPSLIFEHACKS

HDFC Bank Gets RBI Approval to Acquire 9.5% Stake in AU Small Finance Bank

The Financial Express

In a significant development, HDFC Bank has received the green light from the Reserve Bank of India (RBI) to acquire up to 9.5% stake in AU Small Finance Bank. This strategic move is subject to regulatory compliance and is expected to be completed within a year, marking a major milestone in the banking sector. With this acquisition, HDFC Bank aims to expand its presence in the small finance banking space, leveraging AU Small Finance Bank's expertise in microfinance and digital banking solutions. The deal is likely to have a positive impact on the banking industry, with potential benefits for customers and investors alike, driving growth and innovation in financial services and online banking.