HDFC group yet to consider merger plan: Media Report

HDFC group yet to consider merger plan: Media Report
HDFC chairman Deepak Parekh termed as premature the speculation about a merger between the mortgage major and its banking arm HDFC Bank but said that the entities may look at the possibility if it is a "win-win" situation, reported PTI.

"Both the companies' boards have not considered it and at the appropriate time if it is necessary and beneficial to both share-holders, if it is a win-win, then we will look at it," he said, addressing company share-holders at the annual general meeting.

Keki Mistry, the vice-chairman and managing director of HDFC, said such a move has "theoretical" advantages like savings on CRR ( cash reserve ratio) and SLR (statutory reserve ratio) requirements after the RBI liberalised its policies last week and putting the excess capital of parent HDFC to good use.

Speculation about a merger between the two entities has been rife after the RBI released norms exempting banks from CRR and SLR requirements for long-term infrastructure bonds, which also included affordable housing.

Read more about: hdfc bank
Story first published: Tuesday, July 22, 2014, 9:20 [IST]
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