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SEBI approves HDFC Bank as new owner of HDFC AMC

Published on May 25, 2023
Current Context: According to a regulatory filing by HDFC Ltd1, SEBI has granted its approval for the change in control of HDFC AMC, which is a subsidiary of HDFC Ltd and the asset management company of HDFC Mutual Fund (HDFC MF), through a letter dated April 21, 2023.
SEBI approves HDFC Bank as new owner of HDFC AMC
  • The change in majority control was part of the amalgamation of Housing Development Finance Corporation (HDFC) into HDFC Bank.
  • The merger of HDFC with HDFC Bank is in the final stages and is expected to be completed in few months.
  • This approval will help pave the way for the merger of HDFC into HDFC Bank, expected to be finalised by the third quarter of the next financial year

Question:

Q.1 Which regulatory body granted the approval for the change in control of HDFC AMC?
a. RBI
b. NSE
c. IRDAI
d. SEBI
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