HDFC Bank gets capital adequacy boost with Cabinet nod for Rs 240 bn FDI

Even with this additional FDI, foreign equity in HDFC Bank would continue to remain within the mandatory cap of 74 per cent.

In a move that is likely to make a marked improvement in HDFC Bank's capital adequacy ratio, the Union Cabinet on Wednesday approved a proposal for foreign direct investment (FDI) worth Rs 240 billion for the lender. 

The Cabinet has also approved a law for safety of dams, and has okayed the setting up of a National Committee for the purpose. State level committees will also be set up to oversee laws on dam safety at the state level.

Briefing reporters following a cabinet meeting, interim Finance Minister Piyush Goyal said with this additional FDI, foreign equity in HDFC Bank