General Announcement::Disclosure

Issuer & Securities

Issuer/ Manager
HDFC BANK LIMITED
Securities
HDFCBANK INR23B 8.1%N250322 - XS1794215696 - 8NPB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
17-Jun-2023 01:02:04
Status
New
Announcement Sub Title
Disclosure
Announcement Reference
SG230617OTHRWV88
Submitted By (Co./ Ind. Name)
Dhanjit Thaivalappil
Designation
Deputy Vice President
Description (Please provide a detailed description of the event in the box below)
This is in connection with our earlier disclosure letter dated April 04, 2022 informing about the decision taken by the Board of Directors of HDFC Bank Limited ( HDFC Bank ) approving the Scheme under Sections 230 to 232 of the Companies Act, 2013, and rules and regulations thereunder, subject to receipt of various statutory and regulatory approvals.

Vide our earlier letter dated April 21, 2023, we had further informed that in this regard HDFC Bank had made certain requests to the Reserve Bank of India ( RBI ), and that in relation to some of these, the RBI vide its letter dated April 20, 2023, had provided certain forbearances/ clarifications.

In continuation of the same, we wish to inform that HDFC Bank had made a request to RBI to provide confirmation about the commercial papers of HDFC Limited. Pursuant to the same, the RBI has, vide its email dated June 16, 2023, advised HDFC Bank that it may hold the commercial papers that were issued till date by HDFC Limited, till their maturity, and that it shall not roll over or reissue any commercial paper after the effective date of the Proposed Amalgamation ( Effective Date ).

As informed earlier, the Bank will also approach the RBI with the crystalized amounts of all the liabilities of HDFC Limited as of the Effective Date.

We request you to bring the above to the notice of all concerned.

Attachments

SGXSchemeupdateCPapproval16jun2023.pdf
Total size =591K