HDFC twins' merger: RBI may take call on relaxations closer to date

HDFC Bank expects merger to be completed by July this year

The Reserve Bank of India (RBI) is likely to take a call on the relaxations sought by HDFC Bank in relation to the merger, as the date of merger draws closer, sources said.

The HDFC twins, which announced their decision to merge in April last year, received National Company Law Tribunal’s (NCLT’s) approval last week — a key milestone to close the deal in due time.

The management of both the entities had said that it will take 15-18 months for the merger. With most of the key approvals in place, the entities now expect the merger to be completed