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HDFC Bank gets nod to raise up to Rs 50,000 crore in next 12 months

HDFC Bank gets nod to raise up to Rs 50,000 crore in next 12 months

HDFC Bank has received an approval for raising funds by issuing Perpetual Debt Instruments (part of Additional Tier I Capital), Tier II Capital Bonds and Senior Long Term Infrastructure Bonds up to a total amount of Rs 50,000 crore in the period of next twelve months through private placement mode. The board of directors at their meeting held on April 21, 2017, has approved for the same.

HDFC Bank is one of India’s premier banks providing a wide range of financial products and services to its 37 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. As of December 31, 2016, the Bank’s distribution network was at 4,555 branches and 12,087 ATMs across 2,597 cities.

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