RBI rejected HDFC Bank’s request, citing technical obstacles. The central bank explained that the bonds in question were issued by HDFC Ltd, a non-banking finance company (NBFC), and thus fell under different regulatory norms compared to those issued by banks, as per an ET report
2 min read21 Mar 2024HDFC Bank holds 94.7% of its HDB Financial Services and is looking to divest a 10 percent stake in the IPO. This could potentially result in an issue size ranging from ₹7,500-10,000 crore
1 min read13 Mar 2024The merger of HDFC Bank and HDFC Ltd raises concerns for equity mutual funds with exposure to HDFC Bank shares. SEBI may provide a timeline for reducing exposure to prevent a sudden decline in stock prices. Investors should stay informed about SEBI’s actions and the impact on mutual fund investments.
4 Jul 2023Senior bankers are engaging in remote conferencing with zonal and branch offices to sort out glitchesBanks are functioning with a skeletal staff
1 min read1 Apr 2020After the merger, there will be 12 public sector banksIt was widely speculated that the govt may defer the consolidation exercise for some time due to Covid-19
1 min read1 Apr 2020Finance ministry to ensure that there is no disruption to credit, as directed by SitharamanUnion cabinet last week had approved the consolidation of 10 public sector banks into four entities
1 min read12 Mar 2020Merger of 10 state-owned banks into 4 entities to take effect on 1 AprilThe merger is being done so that people have more funds available for credit, says Sitharaman
2 min read4 Mar 2020Last year in August, the government announced the consolidation of 10 public sector banks into four mega state-owned lenders effective April 1
1 min read26 Feb 2020Soon after the announcement, there was uncertainty regarding what will happen to the group health insurance policies The circular said that the policies of the customers of the merged banks shall continue to be serviced by the respective insurers till the end of the policy period
2 min read29 Jan 2020Valuers of each bank will work with others merging with it to arrive at the ratioThe share swap ratio is the ratio at which an acquirer offers its own shares in exchange for the target company’s shares during a merger or acquisition
2 min read28 Oct 2019The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared