EX-99

Exhibit 99

December 16, 2025

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir,

Sub: Disclosure

We wish to inform you that the Reserve Bank of India (“RBI”) vide its letter dated December 15, 2025, has given its approval to HDFC Bank Limited (“Bank”) (being promoter / sponsor of its group entities viz. HDFC Mutual Fund, HDFC Life Insurance Company Limited, HDFC ERGO General Insurance Company Limited, HDFC Pension Fund Management Limited and HDFC Securities Limited ) to acquire “aggregate holding” of up to 9.50% of the paid-up share capital or voting rights in IndusInd Bank Limited (“IndusInd”).

We further wish to inform you that the said approval is valid for a period of one year from the date of RBI’s letter, i.e., till December 14, 2026. Further the Bank needs to ensure that the “aggregate holding” in IndusInd does not exceed 9.50% of the paid-up share capital or voting rights of IndusInd, at all times.

Kindly note that as per the Reserve Bank of India (Commercial Banks – Acquisition and Holding of Shares or Voting Rights) Directions, 2025 (“RBI Directions”), ‘aggregate holding’ includes shareholding by the Bank, body corporate under the same management/ control, mutual funds, trustees, promoter group entities, etc. In view of the same, whilst the Bank does not intend to invest in IndusInd, since the “aggregate holding” of Bank group entities is likely to exceed the prescribed limit of 5%, an application seeking approval of RBI for increase in investment limits was made. Further, since the RBI Directions are applicable to the Bank, the Bank had made the application to RBI on behalf of the group entities, on October 24, 2025.

Please also note that the above investments by HDFC Bank group entities are in the normal course of business of the respective group entities.

You are requested to take note of the above.

Yours faithfully,

For HDFC Bank Limited

Sd/-

Ajay Agarwal

Company Secretary

Group Head – Secretarial & Group Oversight