Kolkata: Bandhan Bank on Friday said it has received "no objection" from the Reserve Bank of India (RBI) for the proposed merger of Gruh Finance with it.
"...we would like to inform that the Reserve Bank has by its letter dated March 14, 2019 conveyed its no objection for the voluntary amalgamation of Gruh Finance Ltd into and with Bandhan Bank, subject to compliance with the terms and conditions therein," the lender said in a regulatory filing.
In January, the city-headquartered Bandhan Bank said its board of directors had approved merger of the India's leading housing finance company, with a focus on the affordable housing segment, into the bank.
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