PFRDA approves HDFC Bank - HDFC merger

20 Jul 2022 , 01:33 AM

HDFC Bank has received the approval from the Pension Fund Regulatory and Development Authority PFRDA vide its letter dated 07 July 2022 received by the Bank on 15 July 2022 in relation to the proposed composite scheme of amalgamation for the amalgamation of i HDFC Investments and HDFC Holdings wholly]owned subsidiaries of Housing Development Finance Corporation HDFC with and into HDFC and ii HDFC with and into HDFC Bank The Scheme remains subject to various statutory and regulatory approvals inter alia including approvals from the Competition Commission of India the National Company Law Tribunal and the respective shareholders and creditors of the companies involved in the Scheme as may be required