The Competition Commission of India (CCI) has approved the proposal of merger of HDFC Bank and HDFC Ltd.

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"Commission approves proposed combination involving amalgamation of HDFC Limited, HDFC Bank, HDFC Investments and HDFC Holdings," CCI said in a tweet on the microblogging platform Twitter on Friday.

Whenever a deals over certain limit has been struck in the marketplace then it needs an approval from the regulator to keep a tab on unfair business practices.

HDFC Ltd, the largest housing finance company of the country in April had decided to merge with HDFC Bank.