Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.370)

370. 

Name the Bank which got RBI approval for holding up to 9.9 percent stake in Bandhan Bank.

[A]. SBI
[B]. Yes
[C]. Axis
[D]. HDFC

Answer: Option D

Explanation:

The Reserve Bank of India (RBI) has given its in-principle approval to Housing Development Finance Corporation (HDFC) Ltd for acquiring 9.9 per cent stake in Bandhan Bank following the Gruh Finance deal. Gruh Finance, the affordable housing finance arm of HDFC Ltd, was taken over by Bandhan Bank in a share-swap deal in January. After the deal was announced, HDFC made an application to the RBI for holding shares in Bandhan Bank. Recently RBI gave its approval to HDFC to acquire the shareholding of up to 9.9 per cent of the paid-up capital of Bandhan Bank upon the effective date of the scheme of amalgamation.

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