India’s insurance regulator has advised insurers against loading up on the bonds of HDFC Group companies, saying details on permitted exposure thresholds must await the effective amalgamation date for what’s billed as the country’s biggest merger.
Early April, mortgage lender Housing Development Finance Corp (HDFC) proposed the merger with HDFC Bank. After the announcement, insurers wrote to their regulator Irdai on the permitted exposure limits in the individual entities.
