HDFC Bank gets relief from RBI on Priority Sector Lending norms

Current Context: The Reserve Bank of India (RBI) has given HDFC Bank three years to comply with the priority sector lending norms (PSL) following its merger with HDFC Ltd (HDFC), though no relaxation is allowed for abiding by the cash reserve ratio and statutory liquidity ratio rules.

• According to RBI norms, commercial banks need to extend 40 per cent of the adjusted net bank credit (ANBC) of the previous year towards the priority sector.

Question:

Q.1 What is the name of the non-bank lender that HDFC Bank is going to merge with? 

a. HDFC Ltd 

b. HDFC Life Insurance Company 

c. HDFC ERGO General Insurance Company 

d. HDFC Credila Financial Services