The Competition Commission of India (CCI) has approved HDFC Bank’s acquisition of 4.99 per cent shareholding in HDFC ERGO General Insurance Company from the parent company Housing Development Finance Corporation (HDFC) under Section 31(1) of the Competition Act, 2002. The proposed combination will enable the lender to participate in the growth opportunity of HDFC ERGO General Insurance and create long-term value for its shareholders.
HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.
