From today HDFC is the fourth largest bank in the world, 100% stake will be held by common investors

New Delhi/ HDFC Ltd. will be merged with HDFC Bank today i.e. on Saturday. The boards of both approved the merger on Friday. With this, HDFC Bank will become the fourth largest bank in the world after JP Morgan, Industrial and Commercial Bank of China and Bank of America.

It will be the most valuable company in the Indian market after Reliance Industries. After the market closed on Friday, the capital of both the companies increased to 14.70 lakh crores. On the other hand, after 46 years of service, HDFC Ltd. Deepak Parekh, chairman of the Institute, also had his last day at the institute on Friday.

Parekh it's time to retire

In the last meeting of the board, Deepak Parekh said that the time has come to retire. We now look forward to an exciting future of growth and prosperity. With the bank taking over the ownership of the group, the synergy between HDFC Bank and the group companies will deepen.