The Reserve Bank of India (RBI) has once again classified State Bank of India (SBI), HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs), requiring them to maintain higher reserves to bolster financial stability. The D-SIB list, which was released by the RBI on Wednesday, outlines that these banks must maintain an additional 'Common Equity Tier 1' (CET 1) ratio, which varies according to their classification level or “bucket.”
Increased Reserves for SBI and HDFC Bank
According to the latest classification, SBI remains in ‘Bucket 4’ and must maintain an extra CET-1 of 0.80%. HDFC Bank, placed in ‘Bucket 2,’ is required to hold an additional 0.40% CET-1. Starting April 1, 2025, SBI and HDFC Bank will see a D-SIB surcharge of 0.60% and 0.20%, respectively, effective through March 31, 2025.
ICICI Bank in ‘Bucket 1’
ICICI Bank is categorized under ‘Bucket 1’ and is required to maintain an additional CET-1 reserve of 0.20%. This classification is based on data collected through March 31, 2024. The D-SIB framework, established by the RBI in 2014, initially included SBI and ICICI Bank in 2015 and 2016, respectively, with HDFC Bank joining in 2017.
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