HDFC to Invest Rs.70 Crores in UWB

Housing Development Finance Corporation Ltd (HDFC) has announced that the Corporation jointly with any one or more of its subsidiary / associate Companies, proposes to invest an amount of up to Rs 70 crores in the aggregate by way of equity in United Western Bank Ltd (UWB) a public limited Company engaged in the banking business, subject to such terms and conditions as may be imposed by the Reserve Bank of India (RBI) and receipt of requisite regulatory and other approvals, by the Corporation and / or its subsidiary / associate Companies, in this regard.

Further the Corporation has informed that, the said investment will be made by the Corporation and / or any one or more of its subsidiary / associate Companies along with SICOM and the Government of Maharashtra.

Source : Equity Bulls

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