HDFC gets RBI approval to acquire up to 9.5% stake in IndusInd

IndusInd Bank said on Tuesday that the RBI has given HDFC Bank an approval to acquire up to a 9.50% stake in the smaller private lender. The Reserve Bank of India has mandated that HDFC Bank acquire a major shareholding within one year of the approval, which was given on December 15, failing which it will be cancelled.