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

Reserve Bank of India (RBI) has added HDFC Bank to a list of "domestic systemically important banks", or the equivalent of "too big to fail."

Image used for representational purpose only. | Reuters File photo 

MUMBAI: Reserve Bank of India (RBI) has added HDFC Bank 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 and third-ranked ICICI Bank 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