RBI Approves ICICI Group to Hike Stake in Federal Bank, Equitas SFB to 9.95%

• RBI grants approval to ICICI Prudential AMC and ICICI Bank group to increase aggregate stake in Federal Bank and Equitas Small Finance Bank up to 9.95%.
• The approval is subject to compliance with the Banking Regulation Act and is valid for one year for both banks.
• Federal Bank shares surged about 3% to ₹291 after the news, while Equitas Small Finance Bank shares declined about 1% to ₹68.
• Analysts view this as a significant move to strengthen ICICI group's strategic stake in the banking sector.