HDFC to buy 10% in Indiabulls comex

HDFC Bank has applied to the Reserve Bank of India (RBI) to buy 10 per cent stake in MMTC-Indiabulls-promoted commodity exchange, which is expected to be operational by March 2009, a top MMTC official said today.

HDFC Bank, which has over 444 branches in 202 cities of the country, holds 2 per cent stake in Multi-Commodity Exchange (MCX).