I have first pandas dataframe like following
 trans_df
 code     price       date           time        product
 12023    71.23       01-01-2018     06:23:00    MS  
 12023    61          01-01-2018     07:56:00    HS
 12023    71.23       01-01-2018     08:34:00    MS
 12023    71.30       01-01-2018     06:03:00    MS  
 12023    61          01-01-2018     11:43:00    HS
 12023    71.23       01-01-2018     10:11:00    MS
 12023    71.23       01-01-2018     04:23:00    MS
 12023    72.23       02-01-2018     10:11:00    MS
 12023    72.23       02-01-2018     04:23:00    MS
Now, I have master price dataframe from where I am checking whether the price set in trans_df is correct or not basis the transaction date and time is between effective_date_from and effective_date_to in master_price for that particular product 
master_price
code  price  effective_date_from    effective_date_to  time_from   time_to  product
12023 71.23  01-01-2018             02-01-2018         06:00:00    05:59:00  MS     
12023 61     01-01-2018             02-01-2018         06:00:00    05:59:00  HS 
12023 72.23  02-01-2018             03-01-2018         06:00:00    05:59:00  MS  
Desired dataframe would be
 trans_df
 code     price       date           time        product  flag      actual_price
 12023    71.23       01-01-2018     06:23:00    MS       match     71.23    
 12023    61          01-01-2018     07:56:00    HS       match     61
 12023    71.23       01-01-2018     08:34:00    MS       match     71.23
 12023    71.30       01-01-2018     06:03:00    MS       mismatch  71.23 
 12023    61          01-01-2018     11:43:00    HS       match     61
 12023    71.23       01-01-2018     10:11:00    MS       match     71.23
 12023    71.23       01-01-2018     04:23:00    MS       nan       nan
 12023    72.23       02-01-2018     10:11:00    MS       match     72.23
 12023    72.23       02-01-2018     04:23:00    MS       match     72.23