Union Cabinet has approved the proposal for grant of permission to HDFC Bank to raise additional share capital of up to a maximum of 24,000 crore rupees. The composite foreign shareholding in the Bank will not exceed 74% of the enhanced paid-up equity share capital of the bank.
According to the Finance Minister Piyush Goyal, the proposed investment is expected to strengthen the capital adequacy ratio of the bank. The Cabinet also approved reconstitution of North Eastern Council (NEC). Home Minister will be the ex officio chairman of NEC and the Minister of State for DoNER will serve as Vice Chairman of the council.
Source- The Economic Times
Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
- HDFC Bank- India’s largest private bank by market capitalization
- HDFC Bank Chairman- Aditya Puri, Headquarters- Mumbai.
- Reserve Bank of India labelled HDFC Bank as ‘domestic systematically important bank’ – in other words, ‘too big to fail’.