On April 4, India's largest mortgage lender Housing Development Finance Corporation (HDFC) and HDFC Bank announced the merger of the two entities in a deal that is seen as a landmark event in the history of the Indian banking sector. Together, the combined entity will have a market-cap of Rs 12.8 lakh crore and a balance sheet size of Rs 17.9 lakh crore. In other words, the resultant entity will be only second to State Bank of India (SBI) in size.