HDFC Bank gets nod for new branches, ATMs

Following market regulator Sebi's decision to allow the bank to open fresh demat accounts, HDFC Bank on Friday said it has also received approval from the Reserve Bank for setting up additional branches and ATMs.

In a filing on the Bombay Stock Exchange, the bank said it had received RBI's approval for establishing new branches and off-site ATMs.

It has also been permitted by Sebi to open new demat accounts, the bank added. HDFC Bank had earlier been barred from opening new branches and demat accounts as it did not show the required alertness in preventing unscrupulous investors corner major portion of IPOs by opening multiple demat accounts in fictitious names.