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Indian-Commodity  :  Top News  :  RBI allows FIIs to purchase shares in HDFC Bank

RBI allows FIIs to purchase shares in HDFC Bank (17-Feb-2017)

Reserve Bank of India (RBI) has allowed overseas investors to buy stake in HDFC Bank as the foreign shareholding in the bank went below the prescribed limit. RBI has notified that the aggregate foreign shareholding through American Depository Receipts (ADR)/Global Depository Receipts (GDR)/ Foreign Institutional Investors (FIIs) /Foreign Portfolio Investors (FPIs)/ Foreign Direct Investment (FDI)/Non-Resident Indians (NRIs)/ Persons of Indian Origin (PIOs) in HDFC Bank have gone below the prescribed limit stipulated under the extant FDI Policy. Accordingly, the restrictions placed on the purchase of shares of the bank are withdrawn with immediate effect.

HDFC Bank has reported 15.15% rise in its net profit at Rs 3865.33 crore for the quarter ended December 31, 2016 as compared to Rs 3356.84 crore for the same quarter in the previous year. Total income of the Bank increased 13.48% at Rs 20748.27 crore for Q3FY17 as compared to Rs 18283.31 crore for the corresponding quarter previous year.


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