Current Affairs - Banking - Discussion

Competition Commission of India (CCI) approved the merger of the Indiabulls Housing Finance and Lakshmi Vilas Bank. Lakshmi Vilas Bank is going to merge with Indiabulls Housing Finance. A share swap deal with intent to create a combined entity with a larger capital base and wider geographical reach. After the merger, Indiabulls Housing Finance will get access to low cost deposits. A geographical diversification and expanded client base and cross selling opportunities.