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Merger of HDFC Investments with HDFC Bank
ECONOMY & POLICY

Merger of HDFC Investments with HDFC Bank

On Monday, HDFC Bank announced that the MAS in Singapore has approved the merger of HDFC Investments and HDFC Holdings with their parent company, HDFC Ltd. Griha Pte, a wholly-owned subsidiary of HDFC Investments and a foreign step-down subsidiary of HDFC Ltd, gained clearance for the merger with HDFC Bank as part of a composite scheme of amalgamation.

The merger of HDFC with HDFC Bank, which is anticipated to be completed by the third quarter of this fiscal year, will benefit from this clearance.

On April 4 of last year, HDFC Bank agreed to acquire the largest domestic mortgage lender in a deal valued at around USD 40 billion, establishing a financial services colossus in what was dubbed the largest transaction in India's corporate history.

On Monday, HDFC Bank announced that the MAS in Singapore has approved the merger of HDFC Investments and HDFC Holdings with their parent company, HDFC Ltd. Griha Pte, a wholly-owned subsidiary of HDFC Investments and a foreign step-down subsidiary of HDFC Ltd, gained clearance for the merger with HDFC Bank as part of a composite scheme of amalgamation. The merger of HDFC with HDFC Bank, which is anticipated to be completed by the third quarter of this fiscal year, will benefit from this clearance. On April 4 of last year, HDFC Bank agreed to acquire the largest domestic mortgage lender in a deal valued at around USD 40 billion, establishing a financial services colossus in what was dubbed the largest transaction in India's corporate history.

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Gadkari Unveils Green Mobility Plan With New Tech, Faster Roads

Union Minister Nitin Gadkari has outlined an ambitious blueprint for next-generation mobility, featuring electric rapid transport, ropeways, hyperloop systems, cable-run buses and funicular railways to transform both urban and remote travel in India. Speaking to PTI, the Minister for Road Transport and Highways said that over 360 ropeway and funicular projects are planned nationwide, with 60 already under way—including in hilly terrains like Kedarnath.The government aims to upgrade 25,000 km of two-lane roads into four-lane highways and scale road construction to 100 km per day. “We’re i..

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