The Union cabinet headed by Prime Minister
Narendra Modi has approved the proposal for grant of permission to HDFC Bank to
raise additional share capital of up to a maximum of Rs.24,000
crore, including premium, over and above the previous approved limit of Rs. 10,000 crore, such that the composite foreign
shareholding in the Bank shall not exceed 74% of the enhanced paid-up equity
share capital of the bank, said PIB (Press Information Bureau) in a press
release. "Even with this infusion the foreign equity will remain
capped below 74 per cent," acting Finance Minister Piyush Goyal said at a
press conference while announcing the decisions taken in the Cabinet meet.
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