INDIA: Removal of Foreign Investment restrictions in HDFC Bank Ltd.

Tuesday February 21 2017

The Reserve Bank of India have made a notification, indicating 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 M/s HDFC Bank Ltd. have gone below the prescribed limit stipulated under the extant FDI Policy.

The restrictions that had been placed on the purchase of shares of the above HDFC Bank Ltd. are withdrawn with immediate effect.

Please follow the link at the top of the page to view the announcement.