The merger of HDFC Corp with the country's largest private lender HDFC Bank will likely take effect July 1, chairman of India’s mortgage-lending pioneer Deepak Parekh said Tuesday. The combined entity will have an asset base of around ₹18 lakh crore, or in excess of $200 billion. The boards of HDFC and the private bank will meet on June 30 to clear and approve the merger, Parekh told the media in Mumbai.

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