
Reserve Bank of India approves IDFC-IDFC First Bank merger
Reserve Bank of India has given its nod for the reverse merger of IDFC Ltd with its banking subsidiary IDFC First Bank.
The boards of IDFC First Bank and IDFC have approved the reverse merger in July.
As part of the composite scheme of amalgamation, IDFC FHCL would first merge with IDFC and then IDFC into IDFC First Bank Ltd.