Bandhan Bank has informed exchanges that the Reserve Bank of India (RBI) has granted approval to SBI Mutual Fund to acquire an aggregate holding of up to 9.99% of the paid-up share capital or voting rights in the bank.
The approval was conveyed by the RBI through its letter dated February 25, 2026. The bank disclosed the development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations.
As per the filing, the approval has been accorded pursuant to the information furnished by SBI Mutual Fund to the RBI and is subject to compliance with applicable regulatory provisions. These include the Banking Regulation Act, 1949, the Reserve Bank of India (Commercial Banks – Acquisition and Holding of Shares or Voting Rights) Directions, 2025 dated November 28, 2025 (as amended from time to time), the Foreign Exchange Management Act, 1999, SEBI regulations, and other relevant statutes, regulations, and guidelines.
RBI Conditions on Stake Acquisition
The central bank has stipulated that if SBI Mutual Fund does not acquire the major shareholding within one year from the date of the approval letter, the approval will stand cancelled.
Further, the applicant must ensure that its aggregate holding in Bandhan Bank does not exceed 9.99% of the paid-up share capital or voting rights at any time. The RBI has also clarified that if the aggregate holding falls below 5% at any point, prior approval from the regulator will be required before increasing it again to 5% or more.
Regulatory Framework for Shareholding in Private Banks
The approval has been granted under the RBI’s framework governing acquisition and holding of shares in commercial banks. These norms are designed to regulate ownership structures in private sector banks and ensure adherence to prudential and statutory requirements.