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The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, gave its approval to the proposal of HDFC Bank Limited for maintaining the permissible foreign holding in the bank up to 74 percent of the total paid up capital.
The Cabinet Committee on Economic Affairs also gave its approval for issuance of equity shares aggregating to an amount of Rs.10,000 crore to NRIs/FIIs/FPIs subject to aggregate foreign shareholding not exceeding 74 percent of the post issue paid up capital.
The approval would result in foreign investment of approximately Rs. 10,000 crore in the country.
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