HDFC Bank board approves Rs 50,000-cr fund-raising

Shyamala Gopinath reappointed as bank's part-time non-executive chairman till June 19, 2019

HDFC Bank told exchanges its board had approved raising up to Rs 50,000 crore through various debt instruments in the next one year through private placement.

In its filing with the exchanges, HDFC Bank said the funds could be raised through perpetual debt instruments, Tier-II capital bonds, and through long-term infrastructure bonds.

In a media interaction, the bank's deputy managing director, Paresh Sukthankar, said the intention was to get approval for fund-raising from the board in case it was needed.

The bank's board also approved reappointment of Reserve Bank of India's former deputy governor Shyamala Gopinath as the bank's part-time non-executive chairman till June 19, 2019, at which time she would be completing 70 years, the bar set by the central bank for executive appointment.