Desk. Former HDFC Chairman Deepak Parekh has revealed that former ICICI Bank chief Chanda Kochhar had once proposed a merger between ICICI and HDFC, which was a proposal to merge, which HDFC’s own banking branch with reversal will Was. But it was rejected. HDFC Limited, the original unit of HDFC Bank, later merged with its banking subsidiary company and formed the country’s largest private sector. The merger came into effect from July 1, 2023. With the reverse merger, the 44 -year -old organization HDFC Limited was lost in old memories.
Interestingly, financial assistance was given by ICICI Limited, the original unit of ICICI Bank in the construction of HDFC Limited. During a conversation with ICICI Bank’s former Managing Director and Chief Executive Officer Chanda Kochhar, Parekh said, “I remember you once talked to me. You said that ICICI started HDFC. Why don’t you come back home? It was your proposal.” This conversation was released on YouTube. However, Parekh said that he rejected the proposal saying that “it would not be appropriate for our name and bank and all.” He said that the back merger with HDFC Bank in July 2023 was mainly inspired by regulatory pressure.
