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HDFC Bank is set to dilute its stake in its NBFC arm as the RBI pushes for public listing and ownership restructuring.

As India’s largest stock exchange heads to the public markets, it may need to rethink its excessive reliance on transaction revenue.
Aggressive expansion, continued dependence on its parent for business, and an adverse shift in the product mix weigh on profitability as well as investor sentiment.
As growth in equities cools, asset managers are looking to embed themselves in payrolls, payments, and credit. This raises their influence, but also the stakes.