Treasury helps HDFC Bank meet minimum capital requirement

The General Treasury of the Government has helped the Housing Development Finance Corporation Bank (HDFC) to meet the regulatory minimum core capital requirement of Rs. 5 billion.

The Bank said it contributed Rs. 250 million from internally generated reserves and Rs. 250 million infusion by the Treasury via non-convertible perpetual debt which qualify as Additional Tier 1 Capital.

The move has been approved by the Monetary Board of the Central Bank. National Housing Development Authority is the biggest shareholder of HDFC Bank with 49.73% stake whilst LOLC Holdings PLC holds 15% stake and Thurstan Investments 14%.