Deepak Parekh, chairman of HDFC Ltd, today(7 June 2022) said he expected the regulator’s view on HDFC’s proposed merger with HDFC Bank to be fair and judicious, asking the stakeholders to be patient.
In his note to shareholders in the annual report, the HDFC patriarch said after 45 glorious years of providing homes to millions of customers, the time was right for HDFC to find a new home.
In April, HDFC and HDFC Bank announced a plan for an all-stock merger deal, for which all the regulatory approvals were expected in 15-18 months.
HDFC Bank has requested the Reserve Bank of India more time to meet several regulatory requirements like cash reserve ratio, statutory liquidity ratio, and priority-sector lending targets.
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