HDFC-HDFC Bank Merger: In April this year, the country’s largest housing finance company HDFC Limited had announced that it would merge with HDFC Bank. Work is progressing slowly in this process and now the Fair Trade Regulator Competition Commission of India has also given its approval to this merger.
CCI gave information in tweet
After the Competition Commission of India (CCI) approved the proposal for merger of HDFC Bank and HDFC Ltd, both have gone a step further in this direction. CCI said in a tweet on microblogging platform Twitter on Friday, “The proposal for merger of HDFC Ltd., HDFC Bank, HDFC Investments and HDFC Holdings has been approved.”
The merger was announced in April
Whenever a transaction exceeds a certain limit in the market, it needs approval from the regulator to keep an eye on unfair trade practices. The country’s largest housing finance company HDFC Ltd decided to merge with HDFC Bank in April, after which many questions were raised in the minds of its investors.
One of the biggest deals in Indian corporate history
The country’s central bank Reserve Bank of India and the stock exchange have already given their in-principle approval to the merger of HDFC and HDFC Bank, one of the biggest deals in Indian corporate history.
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