2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Andhra Bank
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Kotak Mahindra Bank
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Karnataka Bank
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Canara Bank
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Detailed explanation-1: -HDFC Bank merged with Times Bank in February 2000. This was the first merger of two private banks in the New Generation private sector banks category. Times Bank was established by Bennett, Coleman and Co. Ltd., commonly known as The Times Group, India’s largest media conglomerate.
Detailed explanation-2: -HDFC Asset Management Company (“HDFC AMC”) is the investment manager to the schemes of HDFC Mutual Fund (“HDFC MF”).
Detailed explanation-3: -In August, abrdn Investment, formerly Standard Life Investments, divested its 5.58 per cent stake in HDFC AMC for a little over Rs 2, 300 crore through an open market transaction. HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and abrdn Investment Management.
Detailed explanation-4: -As you may be aware, in April 2022, India’s largest private housing finance company, HDFC Ltd., announced its merger into its subsidiary HDFC Bank, the country’s largest private sector bank. HDFC will acquire 41% stake in HDFC Bank through the merger, in addition to the 21% stake it already owns.