The Competition Commission of India (CCI) has approved proposed combination involving amalgamation of HDFC, HDFC Bank, HDFC Investments and HDFC Holdings.
The proposed combination envisages a two-step amalgamation process: the first is amalgamation of HDFC Investments and HDFC Holdings into and with HDFC, such that HDFC will be the surviving entity post this step; and the second step is amalgamation of the amalgamated HDFC into HDFC Bank, such that HDFC Bank will be the surviving entity post this step. (Steps 1 and 2 above together constitute the Proposed Combination)
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.
