SEBI approves HDFC Bank as new owner of HDFC AMC

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.

• 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