ICICI Prudential Mutual Fund gets RBI nod to raise stake in four banks

ICICI Prudential Asset Management Company has received the Reserve Bank’s approval for enhancing its stake in four banks, including Kotak Mahindra Bank, up to 9.95 per cent. The other three lenders are CSB Bank, DCB Bank and AU Small Finance Bank.

The Reserve Bank of India (RBI), through different letters dated September 8, 2026, permitted ICICI Prudential Asset Management Company Ltd (applicant) to acquire an aggregate holding of up to 9.95 per cent of the paid-up share capital or voting rights in these banks, ICICI Bank, the parent entity of the fund house, said in a regulatory filing.

The approvals require the applicant to acquire major shareholding within a period of one year from the date of the RBI letters, failing which the approvals would stand cancelled, it said.