Bandhan Bank received CCI approval to merge with Gruh Finance

The Bandhan Bank has received approval from the Competition Commission of India (CCI) to merge with Gruh Finance.
The approval has been made under sub-section (1) of Section 31 of the Competition Act, 2002.
The move was taken to bring down promoter holding in the bank to 61% from 82.3%.
The bank, which had received RBI nod for the scheme, had recently got approval from the BSE and the NSE.

Published On : 19 Apr 2019