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RBI gives go‑ahead for SBI Mutual Fund to acquire up to 9.99% stake in Bandhan Bank
The Reserve Bank of India (RBI) has approved SBI Mutual Fund’s proposal to acquire up to 9.99% stake in Bandhan Bank.
The approval was communicated through a letter dated February 25, 2026, as disclosed by Bandhan Bank in a regulatory filing.
SBI Mutual Fund is permitted to hold up to 9.99% of the paid-up share capital or voting rights in the bank.
The acquisition must comply with:
- The Banking Regulation Act, 1949
- RBI’s Commercial Banks – Acquisition and Holding of Shares or Voting Rights Directions, 2025
- The Foreign Exchange Management Act (FEMA), 1999
- Applicable SEBI regulations
The RBI has given one year to complete the stake purchase. If the acquisition is not completed within this period, the approval will automatically lapse.
The mutual fund’s holding cannot exceed 9.99% at any time under the approval.
If SBI Mutual Fund’s stake falls below 5%, it will need fresh RBI approval before increasing its holding back to 5% or more.
Following the announcement, Bandhan Bank shares rose 1.77% to ₹186.11 on the NSE.
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