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RBI gives HDFC Bank "too big to fail" status along with SBI and ICICI
September 4, 2017 / 2:26 PM / 22 days ago

RBI gives HDFC Bank "too big to fail" status along with SBI and ICICI

A security personnel member stands guard at the entrance of the Reserve Bank of India (RBI) headquarters in Mumbai, India, August 2, 2017. REUTERS/Shailesh Andrade/Files

MUMBAI (Reuters) - Reserve Bank of India (RBI) has added HDFC Bank (HDBK.NS) to a list of “domestic systemically important banks”, or the equivalent of “too big to fail”, according to a statement on Monday.

HDFC Bank, the second-biggest Indian lender by assets, joins top lender State Bank of India (SBI.NS) and third-ranked ICICI Bank (ICBK.NS) on the list.

Being named systemically important imposes additional capital requirements on the lenders.

The extra capital requirement for HDFC Bank will be applicable beginning April 1, 2018, RBI said. bit.ly/2eVkfgr

Reporting by Devidutta Tripathy; Editing by Keith Weir

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