HSBC Insurance (Asia-Pacific) Holdings will offer up to 4.75 million shares, and Punjab National Bank will sell 95 million shares, according to the draft red herring prospectus filed with the Securities and Exchange Board of India.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.