HDFC Chairman Deepak Parekh has revealed that Credila, a subsidiary specializing in education loans, is being sold due to a protracted regulatory approval process hindering its merger with HDFC Bank. The merger was aimed at streamlining operations and creating a more efficient structure. However, the extended regulatory proceedings have prompted the decision to sell Credila instead. This move reflects the challenges faced in the financial sector due to stringent regulatory requirements and underscores the importance of flexibility and adaptability in the ever-evolving banking landscape.