HDFC Bank says no need to pay off parent firm's liabilities on day one of merger

The country's largest private sector bank by balance sheet size is set to merge its parent mortgage lender Housing Development Finance Corporation Ltd (HDFC Ltd) with itself. HDFC Bank said it has not approved any plans to raise funds to pay towards such liabilities of HDFC Ltd.

from Banking/Finance-Industry-Economic Times https://ift.tt/beOGNny