ICICI Prudential AMC Gets RBI Approval to Hold Up to 9.95% in Four Banks
Mumbai: ICICI Bank Limited has received approval from the Reserve Bank of India (RBI) permitting ICICI Prudential Asset Management Company Limited to acquire an aggregate holding of up to 9.95% of the paid-up share capital or voting rights in four banks.
The RBI approvals, issued through separate letters dated September 8, 2026, cover CSB Bank Limited, DCB Bank Limited, Kotak Mahindra Bank Limited and AU Small Finance Bank Limited.
The approvals do not represent an acquisition already completed. They permit the applicant to acquire the specified holding, subject to the applicable RBI requirements.
The applicant has been given one year from the date of the respective RBI letters to make the permitted acquisition. If the acquisition is not made within that period, the approvals will stand cancelled.
Banks Covered
|
Bank |
RBI-permitted holding |
|---|---|
|
CSB Bank Limited |
Up to 9.95% |
|
DCB Bank Limited |
Up to 9.95% |
|
Kotak Mahindra Bank Limited |
Up to 9.95% |
|
AU Small Finance Bank Limited |
Up to 9.95% |
The approvals follow applications made under the Reserve Bank of India (Commercial Banks – Acquisition and Holding of Shares or Voting Rights) Directions, 2025, dated November 28, 2025.
ICICI Bank said the meaning of “aggregate holding” will be determined in accordance with the provisions of the RBI's 2025 Master Direction.
Key Highlights
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Applicant: ICICI Prudential Asset Management Company Limited
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Approval authority: Reserve Bank of India
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Permitted holding: Up to 9.95% in each of the four banks
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Banks: CSB Bank, DCB Bank, Kotak Mahindra Bank and AU Small Finance Bank
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RBI approval letters: September 8, 2026
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Acquisition deadline: Within one year from the respective RBI letter dates
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Status: Approval to acquire; acquisition is not stated as completed
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Regulatory basis: RBI Commercial Banks – Acquisition and Holding of Shares or Voting Rights Directions, 2025
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Disclosure date: September 9, 2026
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Disclosure by: ICICI Bank Limited
Important Point
The disclosure concerns regulatory approval for a potential acquisition, not an announcement that ICICI Prudential AMC has already purchased shares in the four banks. Any actual acquisition would be subject to the applicable conditions and requirements.