RBI Approves SBI Mutual Fund's Acquisition of Up to 9.99% Stakes in Bandhan and RBL Banks

The Reserve Bank of India has approved SBI Mutual Fund's proposal to acquire up to 9.99% equity stakes in Bandhan Bank and RBL Bank, with a one-year timeframe to complete the acquisitions. The RBI mandates that SBI Mutual Fund's holdings in each bank must not exceed 9.99%, and any increase beyond 5% requires prior approval. SBI Mutual Fund, a joint venture between SBI and Amundi, manages assets worth Rs 26.20 lakh crore as of FY25 and reported a PAT of Rs 2,531 crore in FY26.