RBI approves merger of HDFC Bank and HDFC

HDFC Bank has received a letter dated 04 July 2022 from the Reserve Bank of India (RBI) whereby the RBI has accorded it's 'no objection' for the composite scheme of amalgamation (Scheme) for the amalgamation of: (i) HDFC Investments and HDFC Holdings, wholly-owned subsidiaries of Housing Development Finance Corporation (HDFC ), with and into HDFC and (ii) HDFC with and into HDFC Bank.

The Scheme remains subject to various statutory and regulatory approvals inter alia including approvals from the Competition Commission of India, the National Company Law Tribunal, other applicable authorities and the respective shareholders and creditors of the companies involved in the Scheme, as may be required.

Powered by Capital Market - Live News