Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.371)


Which bank receives NCLT approval for merger with Bharat Financial Inclusion?

[A]. RBL Bank
[B]. Kotak Mahindra Bank
[C]. IndusInd Bank
[D]. IDBI Bank

Answer: Option C


National Company Law Tribunal (NCLT) approved merger of private sector lender IndusInd Bank with Bharat Financial Inclusion (BFIL), a microfinance company. Last year, IndusInd Bank received 'No Objection' from Reserve Bank of India, National Stock Exchange and Bombay Stock Exchange As per the report, the merger is expected to complete within 2-4 weeks. IndusInd Bank Ltd's share price is currently at Rs1,686.85, up by Rs32.25 or 1.95%, from its previous close of Rs1,654.60 on the BSE. The current market cap of the company is Rs 99,750.17crores.

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