RBI Approves Merger Of HDFC Twins
7Perhaps, the largest corporate announcement at the start of this financial year was the merger of the NBFC juggernaut HDFC Limited with the largest private sector bank and its subsidiary, HDFC Bank. While on Saturday, the exchanges accorded approval to the merger of the HDFC twins, the RBI has now accorded approval for the merger. Further to this, the Bank will also need to take approval of the NCLT and the Competition Commission of India. But the approval of the RBI, is a critical, first step to pave the way for a single bank having a loan book of `20 lac crore.
#hdfc #hdfcbank #hdfcmerger
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