Shinhan Bank to acquire a 10% stake in HDFC Credila for INR15bn.

Shinhan Bank, a bank headquartered in Seoul, South Korea, agreed to acquire a 10% stake in HDFC Credila, an Indian student loan company, for INR15bn. Arijit Sanyal, managing director and chief executive officer of HDFC Credila, said the board has cleared a proposal for raising fresh equity.