Google News
logo
Banking - General Knowledge Questions
Who has approved the merger proposal of HDFC Bank and its parent HDFC Ltd?
A)
Ministry of Corporate Affairs
B)
Reserve Bank of India(RBI)
C)
Securities and Exchange Board of India(SEBI)
D)
Competition Commission of India (CCI)

Correct Answer :   Competition Commission of India (CCI)

Fair trade regulator Competition Commission of India (CCI) has approved the merger proposal of HDFC Bank and its parent HDFC Ltd.
 
The proposed combination envisages the merger of HDFC Investments and HDFC Holdings with HDFC Ltd in the first step and subsequently, the merger of HDFC Ltd into HDFC Bank.
 
In a tweet on Friday(12th August 2022), CCI said it has approved the "proposed combination involving amalgamation of HDFC Limited, HDFC Bank, HDFC Investments and HDFC Holdings."
 
In April, the country's largest housing finance company HDFC Ltd announced that it will merge with HDFC Bank..

Source : Business Standard

Published On : August 15, 2022
Advertisement