India's central bank on Wednesday said the State Bank of India, HDFC Bank and ICICI Bank remain the three domestic systemically important banks (D-SIBs) and that the first two would need to maintain an additional capital buffer starting April 2025.

MUMBAI: State Bank of India, HDFC Bank and ICICI Bank continue to be identified as systemically important domestic banks in the 2024 list of this category prepared by the Reserve Bank of India. They were in the same bucketing structure as in the 2023 list as well.

HDFC Bank, the largest private sector lender, continues to be bracketed in bucket 2, under which it will have to maintain a higher CET1 by 0.40%

The Reserve Bank of India (RBI) reaffirmed on Wednesday that State Bank of India, HDFC Bank, and ICICI Bank are India’s key “too-big-to-fail” banks.

The Reserve Bank of India has again designated SBI, HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks for 2024. This classification requires these banks to maintain higher capital reserves to ensure financial stability.