1. The Board of Directors of HDFC have approved amalgamation of HDFC Limited with and into HDFC Bank. Shareholders of HDFC Limited will receive 42 shares of HDFC Bank for every 25 shares held in HDFC Limited.
2. RBI’s MPC kept the repo rate & reverse repo rate unchanged at 4% and 3.35% respectively for the 11th time in a row. GDP growth projection has been cut down to 7.2% while CPI inflation is projected at 5.7% for FY23.
3. SEBI in a circular has issued fresh guidelines for KRAs to independently validate KYC records of all clients (existing as well as new) w.e.f July 1.
4. SEBI in a circular has enhanced the UPI limit for subscribing to public issues from ₹2 lakhs to ₹5 lakhs.
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