HDFC will have to bring down its stake in HDFC Credila Financial Services to 10% over the next two years, and also stop onboarding new customers, according to the central bank’s conditions for its merger with HDFC Bank
This is not the first time when a stronger player continued to show confidence in the existing leadership of the company. In the history of India Inc., there are a couple of instances when acquiring company retained the top managers. Have a look.