Don't settle all Friday trades in HDFC Bank: RBI to custodians

Central bank issued direction after 74% FPI ceiling was crossed

The Reserve Bank of India (RBI) has directed that certain trades in the HDFC Bank scrip on Friday be annulled, said three people with knowledge of the development. 

The cut-off time for the central bank’s directive is 1.40 pm. No trades after that involving foreign investors are to be settled. The time in question was when the market participants were intimated through a circular that the 74 per cent investment ceiling for foreign portfolio investors (FPI) had been crossed. 

Restrictions on FPI buying in HDFC Bank’s stock were lifted for Friday after the segment’s holding in the lender