ICICI Prudential Asset Management Company has received approval from the Reserve Bank of India to acquire aggregate holding of up to 9.95% in four banks. The approval covers CSB Bank, DCB Bank, Kotak Mahindra Bank and AU Small Finance Bank, the company said in an exchange filing on September 9.
ICICI Bank informed the asset manager about the receipt of RBI letters dated September 8, granting the approvals to ICICI Prudential AMC. The approvals allow the AMC to acquire up to 9.95% of the paid-up equity capital or voting rights in the four banks.
