Bloomberg has claimed in its report that after the merger, the market cap of HDFC has reached $172 billion (about Rs 14 lakh crore). In this way, in terms of market cap, it has reached the fourth position after Bank of America Corp, Industrial and Commercial Bank of China Limited and JP Morgan Chase & Company.

What is the effect on FD holders

If a customer has made a Fixed Deposit in HDFC Bank, then he should check whether his FD has been auto-renewed or not. After the merger, the name of the new company has become HDFC Bank. Before the merger, the bank had given two options to the customers having FD in the housing finance company. The customers would either withdraw their FD money or get it renewed. In renewal, it is obvious that the rate of HDFC Bank will be less than HDFC Finance. That is, on renewing the FD, you will get less interest.

However, the expert also says that the customer’s money will be safer if renewed. Under the Deposit Insurance and Credit Guarantee Corporation, deposits of customers up to Rs 5 lakh are guaranteed by the government. Therefore, FD up to Rs.

What is the impact on the borrowers

? Experts say that if someone had taken a home loan from HDFC Finance, then it will not be affected immediately. However, HDFC Bank home loan rates are linked to an external benchmark under the RBI. This means that there may be a change in HDFC Finance home loan rates going forward. There is a great possibility that it may come down if the interest on the loan is revised.

After the merger, HDFC will have 12 crore customers, which is more than the population of Germany . With this, the total number of branches of the company will reach 8,300, while the number of employees working in this company will reach 1.77 lakh. The market cap of the bank has exceeded $62 billion of SBI and $79 billion of ICICI Bank.

The post HDFC Bank Merger: HDFC Bank merger completed from today, big impact on FD and loan takers? first appeared on Rightsofemployees.com.

The merger of HDFC and HDFC Bank (HDFC-HDFC Bank Merger) will become effective from July 1. HDFC Chairman Deepak Parekh said today that after getting approval from the regulators, there will be a meeting of the Board of Directors (Board of Directors) of HDFC and HDFC on June 30 to move forward on the decision related to the merger (HDFC-HDFC Bank Merger). Parekh said that on June 30, the last meeting of the board of HDFC would be held.

From July 13, HDFC shares will be trading as HDFC Bank shares.

RBI had given some regulatory relief to HDFC Bank in April to smoothen the process of this merger.

This is one of the biggest mergers in the history of the Indian corporate world so far. The merger of these two financial institutions is unprecedented as a bank of $168 billion will be formed with this merger. The effect of this merger will be seen on lakhs of customers and shareholders.

HDFC Bank will allot 42 new shares for every 25 shares held in HDFC Bank. The mortgage lender said that while fixing the record date, it will ensure that there is no gap between the suspension of HDFC shares and the allotment of HDFC Bank shares to the 740,000 shareholders.

There was a boom in the shares

After the announcement of the date of merger, there was a jump in the shares of both HDFC Bank and HDFC Limited. HDFC Bank Share Price was trading at a level of Rs 1,660.05 with a gain of 1.50 per cent at 2:55 pm. The stock of HDFC Bank has gained more than 22 per cent in the last one year.

Similarly, HDFC Share Price was trading at a level of Rs 2,764.75 with a gain of 1.63 per cent. HDFC stock has gained more than 26 per cent in the last one year.

The post HDFC-HDFC Bank Merger: HDFC-HDFC Bank merger will be effective from July 1 first appeared on Rightsofemployees.com.

With the HDFC Bank and HDFC merger date getting closer, the dilemma of mutual funds is increasing. Actually, there is a significant share of funds in both the institutions, in such a situation, in case of merger, the share of funds in the new financial institution may exceed the prescribed limit.

According to media report, that market regulator SEBI is making up its mind not to give exemption to mutual funds for holding more than the limit. In such a situation, it is possible that the fund will have to reduce its stake within the stipulated time period. In such a situation, the selling of the stock will also affect the prices.

The merger will be completed in the next few weeks.

The merger will be completed in the next few weeks, which will create the country’s second largest financial institution after State Bank of India. However, at the same time, such funds whose stake is more than the prescribed limit will also be under pressure to reduce their stake and its effect will be seen on the stock of the merged institution.

As per SEBI regulations, a mutual fund scheme cannot invest more than 10% in a single security. However, exchange-traded funds and funds investing in specific sectors are exempted from this. As of Wednesday, the total exposure of at least 60 equity mutual fund schemes to HDFC Bank and HDFC has crossed the stipulated limit of 10%.

What are the options with the funds

A source said that Sebi may consider the breach of this limit as a “passive breach”, as there is no deliberate attempt to break the rules. This situation has arisen because of the merger. In such cases, the fund has 30 days to rebalance its portfolio, which can be further extended by 60 days, failing which the mutual fund may face regulatory action, the source said. Is.

On the other hand, another source said that if it had a widespread impact on the market, then there would have been a need to take regulatory steps, although this is not the case here. According to two executives of the mutual fund, the matter has been referred to the Association of Mutual Funds in India (AMFI). Officials said last week,

Block trade in HDFC

Block trade has been seen in HDFC today amidst ongoing discussions regarding the limit of mutual funds. Where 14.23 lakh shares have been traded at a price of 2650, the entire deal was worth Rs 377.19 crore. Today the stock is trading close to the level of 2650 with a slight gain. On the other hand, there has been a slight decline in the stock of HDFC Bank.

The post HDFC Bank Merger: Big news came on the merger of Hdfc Bank-Hdfc after the market closed first appeared on Rightsofemployees.com.