HDFC Bank to raise fund worth Rs 50,000 crore

DSIJ Intelligence / 22 Apr 2017

HDFC Bank in a statement to the stock exchanges said that the bank will raise Rs 50,000 crore through a variety of debt instruments within next one year through private placement. 

HDFC Bank in a statement to the stock exchanges said that the bank will raise Rs 50,000 crore through a variety of debt instruments within next one year through private placement. 

The bank also stated that the fund raising is likely to be sourced through perpetual debt instruments, tier-II capital bonds, and long-term infrastructure bonds specifically.

The board of the bank 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, as Gopinath will complete 70 years in 2019.

70 years is the limit set by the central banks for the appointment of executives.

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