Team Blitz India
NEW DELHI:The Reserve Bank of India (RBI) has rejected a request from HDFC Bank to allow it to classify securities worth over Rs1 lakh crore issued by the erstwhile HDFC Ltd as infrastructure debt, according to a report by Economic Times. The infra classification would have granted regulatory relaxations to the country’s largest private sector bank.
The stocks of HDFC Bank were trading in green at Rs 1444.35, up 0.93 per cent on March 21, at 9:54 am on BSE. The bank’s stocks are around 17 per cent, down from its 52-week high of Rs 1,757.80. The bank enjoys a market capitalisation of Rs 10,97,142.48 crore.
HDFC Ltd had issued the bonds in question before its merger with HDFC Bank, which took effect in July 2023. Last year, HDFC Bank sought the RBI’s approval to classify debt instruments with maturities ranging from seven to ten years as infrastructure bonds.
