• RBI approved SBI MF to acquire up to 9.99% stake, including equity share capital and voting rights in Bandhan Bank.

About RBI Approval to SBI MF:
Time Period: SBI MF has one year from the approval date to complete the share acquisition up to the 9.99% limit. Its aggregate holding must not exceed 9.99% of RBL Bank at any time.
Re-Approval: If the stake of SBI MF falls below 5%, it will require fresh RBI approval to raise it back to 5% or more, ensuring proper due diligence on the investor, protection of financial stability, and transparent ownership structure in banks.
Current Shareholding: As of 20 February 2026, SBI MF held about 1.88% of RBL Bank’s shares. As of 2025, SBI MF held around 2% in Bandhan Bank.
Rule Compliance: The approval was granted by the RBI following an application by SBI Mutual Fund, subject to compliance with the Banking Regulation Act, 1949; RBI’s 2025 Directions on acquisition and holding of shares; the Foreign Exchange Management Act (FEMA), 1999; and regulations issued by the Securities and Exchange Board of India (SEBI), along with other applicable guidelines.