Business
The RBI designates ICICI Bank, SBI, and HDFC Bank as systemically important banks
By - 09 Feb 2024 08:02 PM
The RBI stated that SBI and HDFC Bank move to higher buckets—SBI moves from bucket 3 to bucket 4 and HDFC Bank moves from bucket 1 to bucket 2—while ICICI Bank stays in the same bucketing structure as last year. In 2015 and 2016, the Reserve Bank declared SBI and ICICI Bank to be D-SIBs. Along with SBI and ICICI Bank, HDFC Bank was also designated as a D-SIB based on information gathered from banks as of March 31, 2017. The current update is based on the data collected from banks as on March 31, 2023 and factoring in the increased systemic importance of HDFC Bank post the merger of erstwhile HDFC Ltd into HDFC Bank on July 1, 2023.
