Foreign banking major HSBC plans to inject $180 million in India operations to support its growth in the country.
This will be through fresh infusion of $150 million by way of new capital as well as through $30 million in the form of retained profits in the India operations, HSBC India CEO Niall Booker told reporters in Mumbai on Thursday.
These funds will be used for supporting growth of retail and commercial banking, he said, adding this was the second tranche of funds being infused in India operations in the last 24 months.
Asked about HSBC's stake in UTI Bank, Booker said after the overseas issue of the private bank, the stake of HSBC would be reduced to 12.5 per cent from over 14 per cent held now.
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