The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Centurion Bank of Punjab Ltd. with HDFC Bank Ltd. The Scheme has been sanctioned in exercise of the powers contained in Sub-section (4) of Section 44A of the Banking Regulation Act, 1949. The Scheme will come into force with effect from May 23, 2008. All the branches of Centurion Bank of Punjab Ltd. will function as branches of HDFC Bank Ltd. with effect from May 23, 2008.
