BANKING AND ECONOMY
HDFC Bank and HDFC Ltd., a housing finance firm will be merged as it was decided in the meeting of Board of Directors of HDFC.
Also, the HDFC Investments Limited and HDFC Holdings Limited will be merged with HDFC Ltd.
Existing shareholders of HDFC Ltd will own 41% of HDFC Bank and the transactions would be completed in the next 18 months.
HDFC Bank was established in 1994.
CEO of HDFC Bank: Mr.Sashidhar Jagdishan.
Headquarters of HDFC Bank: Mumbai.