On Monday, 4th July 2022, HDFC Bank announced that it has got banking sector regulator RBI’s nod for the merger proposal of HDFC Bank with Parent HDFC Corp.
It is considered as the biggest transaction in India’s corporate history. This year, on April 4th, HDFC Bank agreed to take over the biggest domestic mortgage lender in a deal valued at about $40 Billion.
The Bank said in a regulatory filling that HDFC Bank has received a letter dated July 4th, 2022, from the Reserve Bank of India (RBI) where the RBI has accorded its ‘no objection’ for the scheme subject to certain conditions as mentioned therein.
