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.

The Reserve Bank of India (RBI) on Wednesday said State Bank of India (SBI), HDFC Bank and ICICI Bank will continue to be identified as Domestic Systemically Important Banks (D-SIBs). The D-SIB designated banks have to maintain additional Common Equity Tier 1 (CET1) in addition to the capital conservation buffer.

The RBI’s D-SIB framework requires these banks to hold additional Common Equity Tier 1 (CET1) capital in proportion to their systemic importance.

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.