Global News

[ad_1] The HDFC-HDFC Bank merger is the biggest in the history of India Inc. (File) Mumbai: The market regulator Sebi does not see any need for giving more time to mutual fund houses with large holdings in the merger-bound HDFC twins, to realign their portfolios post-merger since there's no material data and given the highly liquid nature of these stocks demanding such an extension. In the biggest merger in the history of India Inc, HDFC in April 2022 said it would merge with its own banking subsidiary in a $40-billion all-stock deal -- after 46 years of being a home loan financier and in between creating the country's largest private sector bank and four other financial sector brands in the insurance, AMC and brokerage businesses. And this Tuesday, HDFC chairman Deepak Parekh said the boards of the Corporation and HDFC Bank will meet on June 30 to finalise the last contours of the merger which is expected to be effective July 1. He has also said that would be the last mee

[ad_1] NEW DELHI : The mega-merger of the HDFC Bank and its parent company the Housing And Development Finance Corporation (HDFC) was one of the biggest news from the banking sector recently. The merger has made HDFC the 4th largest bank in the world and brought the spotlight back on Hasmukh Thakordas Parekh – the man who was the pioneer of Housing Finance in India and founded the Housing Development Finance Corporation in 1977. HDFC – the brainchild of Hasmukh Thakordas Parekh – has since come a long way, overcoming several obstacles in the evolution from a fledging start-up to India’s leading provider of Housing Finance. For his invaluable contribution to the housing finance industry and the banking sector in India, Parekh was awarded the Padma Bhushan by the Government of India in 1992. The London School of Economics also conferred on him an honorary fellowship. Inspiring Story of Hasmukh Thakordas Parekh    cre Trending Stories Hasmukh Thakordas Parekh was born on 10 Ma

[ad_1] The total business of the merged entity stood at Rs 41 lakh crore. Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive, Sashidhar Jagdishan, said on Saturday that the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright and the work on realising the potential of the merger starts now. "The runway for financial services and mortgages, which are so underserved and under-penetrated, is going to be very large. HDFC Bank, the combined entity, with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality, and profitability, will be best positioned to capture growth. At the pace at which we aim to grow, we could be creating a new HDFC Bank every 4 years," he said. HDFC Bank began the day after the merger with a rebranding exe