National Housing Bank grants approval for merger of HDFC and HDFC Bank

11 Aug 2022 , 01:33 AM

Housing Development Finance Corporation HDFC announced that the National Housing Bank NHB vide its letter dated 08 August 2022 has granted its no-objection to the proposed composite scheme of amalgamation of i HDFC Investments and HDFC Holdings with and into HDFC and ii HDFC with and into HDFC Bank as required pursuant to the refinance facilities availed by HDFC from NHB The scheme remains subject to various statutory and regulatory approvals inter alia including approvals from the Competition Commission of India the NCLT and the respective shareholders and creditors of the companies involved in the Scheme as may be required