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HDFC-HDFC Bank Merger: In April this yr, the nation’s largest housing finance firm HDFC Limited had introduced that it might merge with HDFC Bank. Work is progressing slowly on this course of and now the Fair Trade Regulator Competition Commission of India has additionally given its approval to this merger.
CCI gave data within the tweet
After the Competition Commission of India (CCI) authorised the proposal for merger of HDFC Bank and HDFC Ltd, each have gone a step additional on this path. CCI mentioned 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 introduced in April
Whenever a transaction exceeds a sure restrict available in the market, it wants approval from the regulator to regulate unfair commerce practices. The nation’s largest housing finance firm HDFC Ltd determined to merge with HDFC Bank in April, after which many questions have been raised within the minds of its traders.
One of the largest offers in Indian company historical past
The nation’s central financial institution Reserve Bank of India and the inventory change have already given their in-principle approval to the merger of HDFC and HDFC Bank, one of many greatest offers in Indian company historical past.
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