CCEA approves increasing foreign holding in HDFC to 74%

Q.  The Cabinet Committee on Economic Affairs (CCEA) on 28th Jan’15 approved a proposal of which bank to raise the foreign holding limit to 74 per cent?
- Published on 23 Jan 15

a. Reserve Bank of India
b. Punjab National Bank
c. State bank of India
d. HDFC Bank

ANSWER: HDFC Bank
 
HDFC Bank would raise the fund through issuing of equity shares to non-resident Indians (NRIs) or foreign institutional investors (FIIs) or foreign portfolio investors (FPIs) subject to aggregate foreign shareholding not exceeding 74 per cent of the post issue paid up capital.

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