July 1, 2023 9:07 PM

Merger between Housing Development Finance Corporation limited and HDFC Bank comes into effect

The merger between the Housing Development Finance Corp Ltd (HDFC) and HDFC Bank came into effect on 1st July 2023, Saturday. This created the world's fourth-biggest bank by market value behind J P Morgan, ICBC, and Bank of America. The merger was approved by the boards of directors on Friday.   All employees of HDFC will become HDFC Bank employees from today. Post-merger, the key HDFC Bank subsidiaries will include HDFC Securities Ltd., HDB Financial Services Ltd., HDFC Asset ...