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HDFC's CEO Sashidhar Jagdishan petitions court to dismiss fraud allegations from Lilavati Trust. Legal proceedings pending.

HDFC CEO in Legal Battle Over Fraud Claims

Sashidhar Jagdishan, HDFC Bank CEO, contests fraud allegations by Lilavati Trust in court. Claims involve alleged embezzlement and misuse of funds.

HDFC's CEO seeks court intervention over fraud claims from Lilavati Trust, which accuses him of fund misappropriation. HDFC denies these allegations.

HDFC Bank's Managing Director and Chief Executive Officer Sashidhar Jagdishan has approached the Bombay High Court, seeking quashing of the FIR registered against him based on the financial fraud allegations made by the Lilavati Trust, which oversees the Mumbai-based Lilavati Hospital.
The plea was mentioned before the court on Wednesday and will be heard in due course of time.
The FIR stems from a magistrate court's order directing the police to investigate the charges of alleged financial fraud.
The Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) has alleged in the complaint that of the Rs 14.42 crore misappropriated by its trustees, Rs 2.05 crore were received by Jagdishan.
It also claimed that the offer of Rs 1.5 crore disguised as Corporate Social Responsibility (CSR) funds to hospital staff shows the intent to destroy evidence and obstruct justice.
Despite judicial findings and multiple complaints, HDFC Bank failed to act, violating Section 166 of the Companies Act and SEBI governance mandates, the Trust alleged.
The bank, however, has denied the allegations, calling it "outrageous and preposterous".

HDFC Securities warns investors about fraudulent WhatsApp groups impersonating the company, urging them to avoid illegal schemes and use only official channels for transactions

HDFC Securities warns against fake Whatsapp groups amid rise in fraudulent activities

<h2>HDFC Securities warns investors about fraudulent WhatsApp groups impersonating the company, urging them to avoid illegal schemes and use only official channels for transactions</h2>

HDFC Securities has warned its investors against fake whatsapp groups that have been involved in fraudulent activities including impersonating the company and its executives. HDFC Securities is a subsidiary of HDFC bank.&nbsp;
<h3>Warning against fraud</h3>
As per CNBC-TV18, HDFC Securities has urged all investors to avoid subscribing to any scheme or product offered by individuals or entities claiming to provide indicative, assured, or guaranteed returns in the stock market, as this is illegal
These fraudulent groups may attempt to deceive customers into sharing sensitive information and transferring funds by promising high returns.
The firm has emphasised that they do not ask for trading credentials, such as user IDs and passwords, via unofficial channels. It has also reiterated that it does not solicit personal information, including AADHAR or PAN card details, via WhatsApp or any other unofficial channels.
"It is crucial for investors to be vigilant against fraudulent activities and to make investment decisions based on thorough research and credible information. Always verify the authenticity of any communication claiming to be from HDFC Securities and ensure you are transacting only through our official channels", said Sandeep Bhardwaj, Chief Digital Officer (CDO) &amp; Chief Operating Officer (COO) of HDFC Securities.
HDFC Securities further mentioned that customers are not added to Whatsapp groups. They are also not requested for fund transfers outside the official platforms.
Also watch: <a href="https://www.editorji.com/business-news/hdfc-bank-launches-pixel-credit-cards-here-s-everything-to-know-about-india-s-first-virtual-card-1716552419794">HDFC Bank launches PIXEL credit cards; Here's everything to know about India's first virtual card</a>

The brokerage firm highlighted challenges in deposit gathering and anticipated a 'U-shaped' recovery in net interest margin.

HDFC Bank shares dip as CLSA downgrades rating and slashes target price

The brokerage firm highlighted challenges in deposit gathering and anticipated a 'U-shaped' recovery in net interest margin.

HDFC Bank witnessed a decline of over 1% in early trading today, following a downgrade in ratings and target price by foreign brokerage firm CLSA.&nbsp;
CLSA revised HDFC Bank's rating from 'Buy' to 'Outperform' and slashed its target price to ₹1,650 per share from ₹2,025. The brokerage cited the stock being at an inflection point in its journey as the reason behind this adjustment.
While acknowledging the potential long-term benefits of the merger with mortgage lender Housing Development Finance Corporation, CLSA cautioned that it poses more challenges than advantages. Particularly, it highlighted potential challenges in deposit gathering due to a high ask rate and a tough environment. CLSA suggested that HDFC Bank's net interest margin recovery might follow a 'U-shaped' trajectory rather than a swift 'V-shaped' rebound.
CLSA also revised down its estimates for HDFC Bank's deposit accretion for FY2025 to ₹4.2 lakh crore from ₹5.2 lakh crore, and trimmed its loan growth projection to 10% from 15%. Additionally, it reduced the earnings per share estimates for FY25 and FY26 by 5%.
Over the past three years, HDFC Bank's share price performance has been lackluster, recording a decline of over 7%. The stock has consistently underperformed benchmark indices, with a decline of over 13% in the past three months and more than 16% since the beginning of 2024. Over the course of one year, HDFC Bank's stock has witnessed a decline of over 9%.&nbsp; Also Watch: <a href="https://www.editorji.com/business-news/markets/hdfc-bank-raises-rs-7-425-crore-through-infrastructure-bond-issue-report-1702968649648">HDFC bank raises Rs 7,425 crore through Infrastructure bond issue: Report</a>

Report further adds that investors are looking forward to Dalal Street producing its first $1 trillion stock by 2032

India's first $1 trillion stock likely by 2032: Brokerage reveals top 3 contenders

India's first $1 trillion stock likely by 2032: Brokerage reveals top 3 contenders revealed

<h2>Report further adds that investors are looking forward to Dalal Street producing its first $1 trillion stock by 2032</h2>

India is on the brink of claiming the title of the fourth-largest equities hub, outpacing Hong Kong, as per a report by domestic broking firm ICICI Securities. The report further adds that investors are looking forward to Dalal Street producing its first $1 trillion stock by 2032.
As per the brokerage's calculations HDFC Bank is most likely to achieve this goal. Other contenders include Reliance Industries, which is India's largest-listed company currently. However, this hinges on a 21% profit growth trajectory.
Bajaj Finance, meanwhile, would need to maintain a growth rate of 35%-40% over the next decade to achieve this milestone.

HDFC Bank faces outrage by netizens for its campaign 'Vigil Aunty' ad, portraying a woman with a stop-sign bindi. 

HDFC bank's 'Vigil Aunty' ad sparks outrage, netizens demand boycott

HDFC Bank faces outrage by netizens for its campaign 'Vigil Aunty' ad, portraying a woman with a stop-sign bindi.&nbsp;

HDFC Bank has been facing backlash on social media for its advertisement campaign, Vigil Aunty, which is aimed at raising awareness of financial fraud. The campaign features a woman referred to as &lsquo;Vigil Aunty,&rsquo; sporting a stop-sign-like bindi on her forehead.
The bank&rsquo;s attempt was to motivate citizens all around the nation to adopt secure banking practices. However, it has been met with criticism from netizens who have termed the advertisement &ldquo;anti-Hindu&rdquo;. The bank has not yet responded to the outrage and netizens have called for a boycott of HDFC Bank and its services. #antihinduhdfc also started trending on social media platform X after newspaper images of the ad surfaced on the internet recently.&nbsp;
<blockquote class="twitter-tweet">
Excuse Me <a href="https://twitter.com/HDFC_Bank?ref_src=twsrc%5Etfw">@HDFC_Bank</a> <a href="https://twitter.com/HDFCBank_Cares?ref_src=twsrc%5Etfw">@HDFCBank_Cares</a> 👇 The bindi holds a sacred significance for Hindus. The portrayal of a woman wearing a bindi designed as the universal prohibition sign, commonly known as the 'no' symbol, is highly offensive and completely inappropriate. All HDFC Bank&hellip; <a href="https://t.co/qdHflXjqmk">pic.twitter.com/qdHflXjqmk</a>
&mdash; ADV. ASHUTOSH J. DUBEY 🇮🇳 (@AdvAshutoshBJP) <a href="https://twitter.com/AdvAshutoshBJP/status/1713983551451087135?ref_src=twsrc%5Etfw">October 16, 2023</a></blockquote>
<blockquote class="twitter-tweet">
🙏 <a href="https://twitter.com/HDFC_Bank?ref_src=twsrc%5Etfw">@HDFC_Bank</a> &amp; <a href="https://twitter.com/HDFCBank_Cares?ref_src=twsrc%5Etfw">@HDFCBank_Cares</a> Is this how you represent Hindu culture with a 🚫 on woman&rsquo;s forehead? How culturally blind are you? You are the 4th largest bank in the world &amp; you carry a large responsibility of representing India correctly Please withdraw this infomercial <a href="https://t.co/cqOGFShzeP">https://t.co/cqOGFShzeP</a>
&mdash; Kreately.in (@KreatelyMedia) <a href="https://twitter.com/KreatelyMedia/status/1713901398797271453?ref_src=twsrc%5Etfw">October 16, 2023</a></blockquote>
 HDFC Bank&rsquo;s Vigil Aunty campaign, launched in August 2022, aims to promote freedom from fraud by encouraging safe banking habits. The campaign reads 'Join the Vigil army. Let's fight back. Financial Frauds are the new enemy and they are bigger and trickier than ever. 'Don't get Scammed' is an initiative to arm you with all the information you need to stay one step ahead of the latest rampant frauds' &nbsp;
Also Watch: <a href="https://www.editorji.com/business-news/hdfc-bank-refutes-reports-of-arvind-vohra-s-exit-1695205638059">HDFC bank refutes reports of Arvind Vohra's exit</a>

LTIMindtree is currently a part of the Nifty Next 50 index also known as Junior Nifty

HDFC in Nifty 50 index will be replaced by LTIMindtree from July 13

LTIMindtree is currently a part of the Nifty Next 50 index also known as Junior Nifty

LTIMindtree Ltd will replace Housing Development Finance Corporation Ltd in the Nifty 50 index from July 13, the National Stock Exchange said.
The stock exchange has announced changes to various indices, including Nifty 50 and Nifty 100, on account of scheme of amalgamation of HDFC with HDFC Bank.
From July 13, LTIMindtree will replace HDFC in the benchmark Nifty 50 index and Jindal Steel &amp; Power will take the place of the mortgage lender in the Nifty 100 index, according to NSE.
In a release, the bourse said the Index Maintenance Sub-Committee (Equity) of NSE Indices Ltd has decided to make replacement of stock in various indices, following the HDFC-HDFC Bank amalgamation.
The replacement of HDFC with LTIMindtree will also be "applicable to Nifty50 Equal Weight Index".
Among other indices, Mankind Pharma will replace HDFC in the Nifty 500 and Jindal Steel &amp; Power will be included in place of LTIMindtree in the Nifty Next 500.
NSE has also announced changes to other indices.
"These changes shall become effective from July 13, 2023 (close of July 12, 2023)," the release said.
HDFC, the parent of HDFC Bank, merged into the lender on Saturday. HDFC Bank is also the country's largest private-sector lender.
The record date is July 13 for determining the shareholders of HDFC, who shall be issued and allotted the shares of HDFC Bank.
The USD 40-billion merger, the largest such deal in Indian corporate history, is driven by a changing regulatory landscape, which limited the advantages for HDFC continuing as a non-bank lending entity.&nbsp;

Prior to the merger of HDFC and HDFC Bank, which is scheduled to close on June 30, HDFC Chairman Deepak Parekh resigns

'Time to hang my boots': HDFC Chairman Deepak Parekh 

Prior to the merger of HDFC and HDFC Bank, which is scheduled to close on June 30, HDFC Chairman Deepak Parekh resigns

HDFC Chairman Deepak Parekh resigns ahead of HDFC-HDFC Bank merger, effective from July 1
The top business executive had previously stated that after 46 years with the Corporation, June 30 would be his last working day.
Parekh said it is time for him to hang his boots and expressed hope for an exciting future and prosperity.
"It is my time to hang my boots with both anticipations and hopes for the future. While this will be my last communication to shareholders of HDFC, rest assured we now stride tall into a very exciting future of growth and prosperity," he said.
The Mega HDFC-HDFC Bank Merger
Termed as the biggest transaction in the history of India Inc, HDFC Bank on April 4, 2022, agreed to take over its parent, which is the largest pure-play mortgage lender, in a USD 40-billion all-stock deal, creating a financial services titan with a combined asset of over Rs 18 lakh crore.
The combined shares of the HDFC twins will have the highest weighting on the indices at close to 14 per cent, much higher than the present index heavyweight Reliance Industries with a 10.4 per cent weightage.
Post merger, HDFC Bank will be 100 per cent owned by public shareholders, and existing shareholders of HDFC will own 41 per cent of the bank. Every HDFC shareholder will get 42 shares of HDFC Bank for every 25 shares they hold.

HDFC has sold 90% stake of its education loan arm HDFC Credila to private equity firms while retaining 9.99% stake

HDFC sells education loan arm HDFC Credila to PE firms for Rs 9,060 crore

HDFC has sold 90% stake of its education loan arm HDFC Credila to private equity firms while retaining 9.99% stake

A consortium of private equity firms, including ChrysCapital, has acquired a 90% stake in HDFC Credila Financial Services for Rs 9,060 crore, HDFC Ltd said.
The sale of HDFC Credila, the education loan arm of Housing Development and Finance Corporation (HDFC), comes ahead of the completion of HDFC's merger with HDFC Bank.
"HDFC Ltd, HDFC Bank Ltd and HDFC Credila Financial Services Ltd, today announced they have entered into definitive agreements to sell a majority stake in HDFC Credila to an investor consortium of BPEA EQT and ChrysCapital," HDFC said in a stock exchange filing on Tuesday.
Total revenue of HDFC Credila during 2022-23 fiscal was Rs 1,352.18 crore and its net worth as on March 31, 2023 was Rs 2,435.09 crore.
The PE consortium include Kopvoorn B.V., Moss Investments Ltd, Defati Investments Holding B.V. and Infinity Partners.
Kopvoorn B.V. is part of the BPEA EQT group, and Moss Investments, Defati Investments Holding B.V. and Infinity Partners are part of the ChrysCapital group, HDFC said in a late night regulatory filing on Monday.
"The consortium valued HDFC Credila at a pre-money valuation of Rs 10,350 crore and will infuse primary proceeds of Rs 2,000 crore into the company," HDFC said.
HDFC will retain a 9.99% stake in HDFC Credila, which provides education loans to students pursuing higher education in India and overseas. The company has extended loans to over 1.24 lakh customers since its inception with the current loan book at over Rs 15,000 crore.
"We believe the business is well positioned to continue its strong growth momentum under its new shareholders," HDFC CEO Keki Mistry said.
Jimmy Mahtani, Partner and Head at BPEA EQT India, said looking ahead, BPEA EQT plans to accelerate HDFC Credila's digital transformation and invest significantly in the company's continued growth.

After reducing the MCLR by 85 bps in April, HDFC bank has increased the MCLR by 5 to 15 bps on select tenors, making the personal and vehicle loans EMIs costly

HDFC Bank loan rates: hikes MCLR rates; select EMIs to become costly

After reducing the MCLR by 85 bps in April, HDFC bank has increased the MCLR by 5 to 15 bps on select tenors, making personal and vehicle loans EMIs costly

The HDFC bank on Monday, hiked its Marginal Cost Based Lending Rate by 5 to 15 basis points on select tenors. This latest hike will affect the EMIs of personal loans and vehicle loans, which fluctuate with the change in the MCLR.
As per HDFC bank, the overnight MCLR will be 7.95%, for one month it is 8.10%, while the three month and six month rates are at 8.40% and 8.80% respectively. Meanwhile, the one-year MCLR that affects all the consumer loans is at 9.05%, two-year rates at 9.10%, and three year MCLR at 9.20%.&nbsp;
This change in the MCLR will be applicable from 8th May. HDFC bank had cut the MCLR by upto 85 basis points for loans of short tenures after the RBI announced a pause in rate hike in April.&nbsp;
As per Business Today, MCLR-linked loans are mostly given to corporate and business establishments. These loans had 46.5 per cent share in outstanding floating rate rupee loans as of September 2022.&nbsp;

National company law tribunal (NCLT) have given the go-ahead for the mega merger between HDFC and HDFC Bank. 

NCLT approves HDFC-HDFC Bank merger

National company law tribunal (NCLT) have given the go-ahead for the mega merger between HDFC and HDFC Bank.&nbsp;

The decks are cleared for the mega merger of HDFC and HDFC Bank to go ahead. The merger has been approved by the National Company Law Tribunal (NCLT).&nbsp;
The merger has already received in-principal approval from regulators including RBI, SEBI, insurance regulator IRDAI as well as shareholders and competitions commission of India. Both the stock exchanges have also given an NOC for the deal. &nbsp;
The deal, deemed the biggest merger in India's corporate history, was announced on April 4, 2022. The deal valued at around $40 billion will lead to the creation of a banking behemoth. The combined entity will have a combined asset base of around 18 lakh crore.&nbsp;
Post the merger, HDFC Bank will be 100% owned by public shareholders, and existing shareholders of HDFC will own 41% of the bank. Every HDFC shareholder will get 42 shares of HDFC Bank for every 25 shares held.
Shares of both HDFC bank and HDFC closed the day about 1.7% higher.&nbsp;

The latest news on April 4 from the world of business, crypto, markets. From a mega merger to a super app, From soaring markets to burning fuel prices here are the details: 
Merger MondayHDFC to merge into HDFC Bank, stocks see biggest intraday gain since 2009. Merged entity likely to be third biggest company on Dalal Street as India’s top housing financier merges with India's largest private bank. Merger ration set at 42:25 for HDFC shareholders. Nifty @ 18,000Bank Nifty surges with HDFC twins takes Nifty back to 18,000 for the first time since Jan 2022 & Sensex reclaims 60,000. Barring realty, all indices traded firm, with bank and financial services leading.Fuel Price Hikes 12th hike in under a month for petrol, diesel prices as the gauge went up again by 40 paise across the country. The total hike now amounts of Rs 8.4/litre. CNG prices also hiked sharply by Rs 2.5 per unit in Delhi. Crypto CornerUS market regulator, the Securities and Exchange Commission (SEC) – urged local companies that provide crypto services to disclose the associated risks with such operations to clients. The agency warned investors to be utterly cautious when delving into the asset class as they could experience a financial loss.'Neu' Pitch From Tata Salt-to-software conglomerate Tata Group is planning to launch is much-awaited super-app on 7 April. The House of Tata has been advertising the app on the IPL pitch ahead of it's launch. The company has already made the app available on the Play Store for android users, but it will be operational on April 7
 

Business News Live: Top 5 market headlines on April 4

The latest news on April 4 from the world of business, crypto, markets. From a mega merger to a super app, From soaring markets to burning fuel prices here are the details: 

Mega Monday Merger: HDFC&nbsp;twins to become one, bulls rejoice

The latest news on April 4 from the world of business, crypto, markets. From a mega merger to a super app, From soaring markets to burning fuel prices here are the details:&nbsp;
<h3>Merger Monday</h3>
HDFC&nbsp;to merge into HDFC&nbsp;Bank<a href="HDFC%20and HDFC Bank announce mega merger; details here" target="_blank">,</a> stocks see biggest intraday gain since 2009. Merged entity likely to be third biggest company on Dalal Street as&nbsp;India&rsquo;s top housing financier merges with India's largest private bank. Merger ration set at 42:25 for HDFC&nbsp;shareholders.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/hdfc-hdfc-bank-merger-what-this-mega-move-means-for-shareholders-customers-1649050027709" target="_blank">HDFC, HDFC Bank merger: What this mega move means for shareholders, customers</a>
<h3>Nifty @ 18,000</h3>
Bank Nifty surges with HDFC&nbsp;twins takes Nifty back to 18,000 for the first time since Jan 2022 &amp;&nbsp;Sensex reclaims 60,000.&nbsp;Barring realty, all indices traded firm, with bank and financial services leading.
<h3>Fuel Price Hikes&nbsp;</h3>
12th hike in under a month for petrol, diesel prices as the gauge went up again by 40 paise across the country. The total hike now amounts of Rs 8.4/litre. CNG prices also hiked sharply by Rs 2.5 per unit in Delhi.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/petrol-diesel-price-12th-hike-on-monday-latest-rates-in-delhi-mumbai-1649038931649" target="_blank">Petrol &amp; diesel price: 12th hike on Monday; latest rates in Delhi, Mumbai</a> Crypto&nbsp;Corner
US market regulator, the Securities and Exchange Commission (SEC) &ndash; urged local companies that provide crypto services to disclose the associated risks with such operations to clients. The agency warned investors to be utterly cautious when delving into the asset class as they could experience a financial loss.
<h3>'Neu' Pitch From Tata&nbsp;Group</h3>
Salt-to-software conglomerate Tata Group is planning to launch is much-awaited super-app on 7 April. The House of Tata&nbsp;has been advertising the app on the IPL pitch ahead of it's launch.&nbsp;The company has already made the app available on the Play Store for android users, but it will be operational on April 7
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/sri-lanka-crisis-why-dynasty-politics-and-rajpaksas-are-being-blamed-1649048985285" target="_blank">Sri Lanka crisis: Why dynasty politics and Rajpaksas are being blamed</a>

It does not get bigger than this! HDFC Bank and mortgage lender HDFC. Here are the details and the mega merger. 

HDFC to merge into HDFC Bank HDFC Ltd will receive shares of HDFC Bank as per approved ratio
HDFC Ltd as of record date will get 42 shares of HDFC Bank for 25 shares held by HDFC shareholder
HDFC Bank will be 100% owned by public shareholders and existing shareholders of HDFC Limited will own 41% of HDFC Bank
HDFC Limited is India’s largest housing finance company with a total AUM of Rs 5.26 lakh crore
HDFC Bank, India's largest private sector bank by assets with market cap of Rs 8.35  lakh crore 
Bank has requested RBI for phased implementation of higher requirements of reserves - CRR, SLR
Lower cost of loans will be available for housing loan customers. 
HDFC will cease to exist after merger is complete 
Completion of Merger Process: Expected by Q2 / Q3 FY24 (December 2023)


HDFC, HDFC Bank merger: What this mega move means for shareholders, customers

Keki Mistry&nbsp;on HDFC&nbsp;&amp; HDFC&nbsp;Bank merger: See potential for 7% more room for international investors post merger in the new entity.&nbsp;

It does not get bigger than this! HDFC&nbsp;Bank and mortgage lender HDFC. Here are the details and the mega merger.&nbsp;
<ul>
<li>HDFC&nbsp;to merge into HDFC&nbsp;Bank&nbsp; HDFC&nbsp;Ltd will receive shares of HDFC&nbsp;Bank as per approved ratio</li>
<li>HDFC&nbsp;Ltd as of record date will get 42 shares of HDFC&nbsp;Bank for 25 shares held by HDFC&nbsp;shareholder</li>
<li>HDFC Bank will be 100% owned by public shareholders and existing shareholders of HDFC Limited will own 41% of HDFC Bank</li>
<li>HDFC Limited is India&rsquo;s largest housing finance company with a total AUM of Rs 5.26 lakh crore</li>
<li>HDFC Bank, India's largest private sector bank by assets with market cap of Rs 8.35&nbsp; lakh crore&nbsp;</li>
<li>Bank has requested RBI&nbsp;for phased implementation of higher requirements of reserves - CRR, SLR</li>
<li>Lower cost of loans will be available for housing loan customers.&nbsp;</li>
<li>HDFC&nbsp;will cease to exist after merger is complete&nbsp;</li>
<li>Completion of Merger Process: Expected by Q2 / Q3 FY24 (December 2023)</li>
</ul>
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/sri-lanka-crisis-why-dynasty-politics-and-rajpaksas-are-being-blamed-1649048985285" target="_blank">Sri Lanka crisis: Why dynasty politics and Rajpaksas are being blamed</a>

HDFC and HDFC Bank merger news: Mega merger announced taking the street by complete surprise, HDFC board approved merger into the HDFC Bank, hdfc bank merger and acquisition, hdfc bank and hdfc ltd difference, hdfc twins merger

HDFC and HDFC Bank announce mega merger; details here 

Deepak&nbsp;Parekh&nbsp;on HDFC&nbsp;&amp; HDFC&nbsp;Bank merger: This is a merger between equals

Mega merger announced taking the street by complete surprise, HDFC&nbsp;board approved merger into the HDFC&nbsp;Bank. The financial giant will come together and overshadowing India's largest bank SBI.42 shares of <a href="https://www.editorji.com/business-news/hdfc-hdfc-bank-merger-what-this-mega-move-means-for-shareholders-customers-1649050027709">HDFC Bank</a> to be given for every 25 shares of HDFC.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/sri-lanka-economic-crisis-10-things-you-must-know-1647855082750" target="_blank">Sri Lanka Economic crisis: 10 things you must know</a> Speaking about the merger,&nbsp;Deepak Parekh, Chairman HDFC Limited, said, &ldquo;This is a merger of equals. Over the last few years, various regulations for banks and NBFCs have been harmonised, thereby enabling the potential merger. Further, the resulting larger balance sheet would allow underwriting of large ticket infrastructure loans, accelerate the pace of credit growth in the economy.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/story/crypto-corner-sebi-bets-on-blockchain-what-is-dlt-and-how-it-marks-a-big-change-1629186153538" target="_blank">Crypto Corner: SEBI bets on blockchain, What is DLT and how it marks a big change</a>

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