The media folks don’t think or analyse before ‘creating’ news from regulatory filings.
HDFC Bank now is the promoter of HDFC AMC and HDFC Life.
Whenever an institutional investor such as life insurance companies and mutual funds want to increase holding in a bank, they have to prematurely apply to the RBI for approval.
This is exactly that - when HDFC Life or AMC want to acquire more stake in Yes Bank or IndusInd Bank - essentially as the owner of these institutional investors HDFC Bank (parent) must apply for RBI permission.
Remember when there was hurrah around LIC approval to own upto 10% of HDFC Bank. LIC buying the dip, bla bla bla. LIC doubling stake in HDFC Bank…
Focus on what matters folks - lots of noise around everywhere.
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