RBI gives green signal to HDFC, HDFC Bank merger proposal

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HDFC Bank on Monday said it has got banking sector regulator RBI's nod for the merger proposal of its parent HDFC Ltd with itself.

Touted as the biggest transaction in India's corporate history, HDFC Bank on April 4 agreed to take over the biggest domestic mortgage lender in a deal valued at about $40 billion, creating a financial services titan.

The company shall ensure that no changes to the draft scheme except those mandated by the regulators or tribunals should be made without specific written consent of Sebi, it said.

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Article Details

Author / Journalist: PTI

Category: Economy

Topics: Hdfc-hdfc bank merger Competition commission of india Hdfc-Hdfc Bank Merger approval Business news Hdfc bank Hdfc ltd

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-05, 01:38:31

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Reading Time: 3 minutes read

Article Length: 435 words

Coverage Area: India

Availability: Desktop Web, Mobile Web

News ID: 29606

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