Merger of India's HDFC and HDFC Bank to be effective from July 1: report

Merger of India's HDFC and HDFC Bank to be effective from July 1: report

A customer walks out of a HDFC Bank branch as another deposits a cheque at a counter in Mumbai November 17, 2012. REUTERS/Vivek Prakash/Files

The merger between Housing Development Finance Corporation (HDFC) and HDFC Bank will be effective on July 1, CNBC-TV18 reported on Tuesday, citing HDFC Chairman Deepak Parekh.