India Counts HDFC Stake in HDFC Bank as Foreign: Report

Mumbai: The Foreign Investment Promotion Board (FIPB) has approved raising the foreign holding limit in second-biggest private sector lender HDFC Bank Ltd but counts its parent's holding as foreign, a newspaper reported on Saturday. Counting the 22.50 per cent stake owned by mortgage lender Housing Development Finance Corp and two of its units in HDFC Bank would limit capacity for any further foreign fund raising by the bank, th...