In a significant regulatory development, the Reserve Bank of India has granted approval to SBI Mutual Fund to acquire up to 9.99 per cent stake in Bandhan Bank.
Bandhan Bank disclosed the update in a stock exchange filing on Thursday. The approval is based on the information submitted by the fund house to the RBI.
“Reserve Bank of India vide its letter dated February 25, 2026, accorded its approval to SBI Mutual Fund to acquire “aggregate holding” of up to 9.99 per cent of the paid-up share capital or voting rights in Bandhan Bank,” the filing stated.
The approval is subject to compliance with relevant provisions under applicable laws. The RBI has clarified that if SBI Mutual Fund does not acquire major shareholding within 1 year from the date of the letter, the approval will stand cancelled. The regulator has also directed that the fund’s “aggregate holding” must not exceed 9.99 per cent of the paid-up share capital or voting rights of the bank at any time.
Further, if the “aggregate holding” of SBI Mutual Fund falls below 5 per cent at any point, prior RBI approval will be required to raise it again to 5 per cent or more in the Kolkata-based lender.
As of December 2025, mutual funds collectively held 11.79 per cent stake in Bandhan Bank. Among individual schemes, SBI Balanced Advantage Fund, part of SBI Mutual Fund, owned 3.45 per cent stake in the bank at the end of Q3 of this fiscal.
On Thursday, shares of Bandhan Bank closed at ₹186.10 apiece on the BSE, up 1.81 per cent from the previous close.
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