Customers of HDFC will benefit most from the merger with HDFC Bank; see why

The long-awaited merger of the HDFC twins, mortgage lender HDFC and bank HDFC, has been announced by HDFC Bank. The planned merger will aid the private lender in expanding its customer base and growing its portfolio of housing loans. Customers of HDFC Bank will benefit most from this combination, according to Deepak Parekh, chairman of HDFC Bank.

The HDFC-HDFC Bank merger will reduce the risk associated with a single product and increase the merged entity's asset variety. In contrast to the existing assignment process, the combined firm will be able to offer mortgage products easily, Parekh stated.

Parekh noted that the Reserve Bank of India (RBI) is implementing SLR, CRR, and PSL in a phased-in manner.

A composite scheme of amalgamation for the merging of HDFC Limited and HDFC Bank, as well as their respective shareholders and creditors, was authorized by the board of directors of Housing Development Finance Corporation (HDFC) Limited on Monday, according to a statement from the company. This was an action that both the firm and the shareholders had been waiting to take. Long-term wealth will be created for the company's shareholders as a result of this combination. The ratio of amalgamation is 25/42. If you own 25 HDFC Ltd. stock shares that have been completely paid, that is. You will receive 42 Shares of HDFC Bank Ltd. fully paid equity shares, each valued at 1 face value, of Face Value 2 apiece. The shareholders of HDFC Limited as of the record date will receive equity shares from HDFC Bank following the implementation of the Scheme. According to the Scheme, the equity share(s) that HDFC Limited held in HDFC Bank will be eliminated. According to Sudhanshu Singh, Director IBM, Moneymakers India Securities, "The Boards of both firms think that the merger will provide long-term prosperity for all stakeholders, including consumers, staff, and shareholders of both entities.

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