HDFC group yet to consider merger plan: Media Report

Posted By: Religare
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    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
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more