Archive · 21 Jun 2025
Parekh Discloses Kochhar's Proposal for ICICI-HDFC Merger
Deepak Parekh shared that Chanda Kochhar of ICICI Bank once suggested merging with HDFC, but Parekh said no.
The HDFC and HDFC Bank merged in July 2023 due to regulatory pressure and the support of RBI.
Parekh kept the merger a secret until it was publicly announced.
Parekh believes it was good for the financial institution and for India to have large banks.
Deepak Parekh revealed Chanda Kochhar proposed an ICICI-HDFC merger.
Parekh declined the merger offer, citing fairness concerns.
The HDFC-HDFC Bank merger was primarily driven by regulatory pressure.
RBI supported and facilitated the HDFC-HDFC Bank merger.
Parekh viewed the merger as beneficial for the institution and the country.
- Who
- Deepak Parekh and Chanda Kochhar
- What
- Deepak Parekh revealed Chanda Kochhar proposed an ICICI-HDFC merger.
- When
- The HDFC-HDFC Bank merger was completed in July 2023.
- Where
- India
- Why
- Parekh discussed banking sector consolidation and shared insights from the past.
Merger Proposals
Banking Sector Consolidation
The Proposal
Merger Proposals
ICICI proposed merging with HDFC
Banking Sector Consolidation
Unstated
- Key Figure
- Deepak Parekh
- Related Companies
- HDFC, ICICI Bank
- Subject
- Proposed Merger
- Merger Completion
- July 2023
Sources
Deepak Parekh reveals Chanda Kochhar once pitched HDFC ICICI merger years before 2023
‘Microfinance worries me’: Deepak Parekh sounds alarm on risky loans and retail credit binge
‘ICICI started HDFC, why don’t you come back home?’: Deepak Parekh recalls Chanda Kochhar’s proposal
Did ICICI Bank Try To Acquire HDFC Once? Know What Deepak Parekh Reveals
HDFC Chairman Deepak Parekh Reveals ICICI Once Courted HDFC For Merger