HDFC-HDFC Bank merger gets CCI approval: What next?

The Competition Commission of India (CCI) has approved the proposal of merger of HDFC Bank and HDFC Ltd.

"Commission approves proposed combination involving amalgamation of HDFC Limited, HDFC Bank, HDFC Investments and HDFC Holdings," CCI said in a tweet on the microblogging platform Twitter on Friday.

Whenever a deals over certain limit has been struck in the marketplace then it needs an approval from the regulator to keep a tab on unfair business practices.

HDFC Ltd, the largest housing finance company of the country in April had decided to merge with HDFC Bank.