Which statement is true regarding the HDFC Group, considering the recent merger?

The question asks which statement is true regarding the HDFC Group.

HDFC Ltd. (Housing Development Finance Corporation Limited) was a housing finance company, and HDFC Bank was its banking subsidiary. In a significant corporate development, HDFC Ltd. was merged into HDFC Bank. This merger was completed in July 2023, making HDFC Bank the surviving entity and one of the largest banks globally.

Let's evaluate the options:

• A) HDFC Bank And HDFC Ltd. Function As Separate Entities: This was true before the merger but is no longer the case.
• B) HDFC Ltd. Has Been Merged With HDFC Bank: This accurately describes the merger where HDFC Ltd. was absorbed by HDFC Bank.
• C) HDFC Bank Has Been Merged With HDFC Ltd.: This is incorrect; HDFC Bank was the acquiring entity.
• D) HDFC Ltd. And HDFC Bank Have Been Merged To Create A New Entity: While the combined entity is larger, HDFC Bank retained its name and identity, absorbing HDFC Ltd., rather than a completely new entity being formed. Option B is more precise.

The correct option is B.

• B) HDFC Ltd. Has Been Merged With HDFC Bank

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