Widely read:
The Bank has received a copy from the RBI letter dated the same day addressed to HDFC Bank Limited (the applicant) that is has accorded its approval to the applicant to acquire aggregate holding of up to 9.95% of the paid up share capital or voting rights in the Bank within one year from the date of RBI approval letter failing which RBI approval shall stand cancelled. The approval is subject to certain conditions including compliance with the relevant statutory and regulatory provisions.
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