Thiruvananthapuram

29°C

Haze

Enter word or phrase

Look for articles in

Last Updated Tuesday October 16 2018 02:39 PM IST

HDFC Bank's proposal to raise Rs 24,000 cr via FDI

Text Size
Your form is submitted successfully.

Recipient's Mail:*

( For more than one recipient, type addresses seperated by comma )

Your Name:*

Your E-mail ID:*

Your Comment:

Enter the letters from image :

HDFC Bank Currently, the FDI in the bank stands at 72.62 per cent: File photo

New Delhi: The government Wednesday gave approval to HDFC Bank to raise Rs 24,000 crore in foreign direct investment (FDI) to fund its business growth.

With the raising of this capital, FDI in the bank would hit the regulatory ceiling of 74 per cent, finance minister Piyush Goyal said after the cabinet meeting chaired by prime minister Narendra Modi here.

Currently, the FDI in the bank stands at 72.62 per cent.

Of the additional Rs 24,000 crore, Rs 8,500 crore is proposed to be allotted to HDFC Ltd, the promoter, on a preferential basis.

Read latest business news

The opinions expressed here do not reflect those of Malayala Manorama. Legal action under the IT Act will be taken against those making derogatory and obscene statements.

Email ID:

User Name:

User Name:

News Letter News Alert
News Letter News Alert