The HDFC board has approved the merger of Max Life and Max Financial Services with its insurance arm HDFC Standard Life Insurance. The total premium of the merged entity of HDFC Life-Max is expected to be Rs.26,000 crore. It will create the biggest public sector life insurer.
HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It is the largest bank in India by market capitalization as of February 2016. It was ranked 58th among India’s most trusted brands according to Brand Trust Report, 2015. In 1994, HDFC Bank Limited was incorporated, with its registered office in Mumbai, India. Its first corporate office and a full-service branch at Sandoz House, Worli was inaugurated by the then Union Finance Minister, Dr. Manmohan Singh.
So let’s do:
1. HDFC board gives green signal to ________ merger.
Source – The Hindu