THE HINDU Bandhan Bank to merge with Gruh Finance
CONTEXT:
- Bandhan Bank has received approval from the Competition Commission of India (CCI) for the proposed scheme of acquiring of Gruh Finance.
- Bandhan Bank had, in January 2019, announced the merger of Gruh Finance with it.
- The move was taken to bring down promoter holding in the bank to 61% from 82.3%.