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Approval is valid for one year and comes with the condition that HDFC AMC's shareholding in both banks should not exceed 9.5%
The Government has received about Rs 1556 crore and Rs 88 crore as dividend tranches from Coal India Ltd. and BHEL, respectively.
The board will discuss issuing private non-convertible debentures (NCDs) as part of their routine refinancing
The partnership focuses on offering MSME business loans and Gold Loans mainly to borrowers in non-urban areas
Additionally, the central bank informed HDFC AMC that its ownership stake in both private banks should not be greater than 9.5%.
Brent futures for November delivery were down 44 cents, or 0.5%, at $89.18 per barrel. West Texas Intermediate crude (WTI) CLc1 in the United States decreased by 49 cents or 0.6% to $89.17.
Major factors contributing to the bearish trend include foreign fund outflows and a downturn in HDFC Bank's performance
He began his career at the bank in 1996 as a Manager in the Finance department.
Nifty Midcap 50 stocks closed 0.35% lower. Nifty Bank ended with a decline of 0.54%.
Management of the IPO-bound company chats with Sheetal Agarwal of IIFL to streamline the company’s strengths, performance and road ahead.