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Govt clears FDI proposals of HDFC Bank, RBL

NEW DELHI: HDFC Bank and Ratnakar Bank today got clearance from government panel Foreign Investment Promotion Board for their respective FDI proposals.

New Delhi, December 19

HDFC Bank and Ratnakar Bank today got clearance from government panel Foreign Investment Promotion Board for their respective FDI proposals.

HDFC bank had applied for yet another FIPB approval, this time for expanding its equity base by up to Rs 10,000 crore, sources said.

Besides, the Board has also cleared Ratnakar Bank’s proposal for capital raising.

Last month, the FIPB cleared the long-pending proposal of HDFC Bank to hike foreign holding in the bank to 74%. — PTI

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