RBI clears ICICI Prudential to buy 9.95% stake in IDFC First Bank

IDFC FIRST Bank has secured a crucial nod from the Reserve Bank of India. ICICI Prudential Asset Management Company, along with group entities of ICICI Bank, can now acquire up to 9.95% of the bank's paid-up share capital. This development marks a significant step for the bank. The approval is subject to specific conditions and compliance with relevant regulations.