As per RBI directions, HDFC Bank will have to ensure that the aggregate holding in the 6 banks does not exceed 9.50 per cent of the paid up share capital or voting rights of the respective banks, at all times.
".the CCI vide its letter dated today, i.e. October 17, 2023 has communicated that it has considered and approved the combination under Green Channel Route," IDFC said in a regulatory filing.
Mumbai-based HDFC Bank is converting about 530 offices that previously specialized in mortgages into ones with fully-fledged banking services in the coming months, said Kaizad Bharucha, the company s deputy managing director. He said his firm can now offer home loans at more than three times the locations following its merger with HDFC Ltd. and thats just the start.
HDFC, in many ways, represented Indias growth story. No wonder it has always been the favourite stock of investors. But more than the equity market, HDFCs absence will be missed by the bond market. Its AAA-rated bonds always sell like hotcakes. Despite being a regular issuer, nearly all of HDFCs bond issues were oversubscribed because they were considered a proxy for sovereign debt.