Capital First announced that the regulator National Housing Bank (NHB) has approved the merger of the company along with Capital Home Finance and Capital First Securities Limited with

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	IDFC Bank
B	HDFC Bank
C	Axis Bank
D	Kotak Mahindra Bank

Explanation:

Detailed explanation-1: -Dear Customers and Partners, I am pleased to announce the completion of the merger of IDFC Bank and Capital First, officially combined to form a new enterprise which will be called IDFC FIRST Bank.

Detailed explanation-2: -The boards also approved a share swap ratio of 139 shares of IDFC Bank for 10 shares of Capital First, a debt financing firm for small entrepreneurs. The merger will also result in V Vaidya-nathan, currently chairman and managing director of Capital First, succeeding Ra-jiv Lallas MD and CEO of the merged entity.

Detailed explanation-3: -IDFC Bank and Capital First merged effective 18th December 2018.

Detailed explanation-4: -After a failed bid for merger with Shriram Group due to valuation differences and structuring issues, IDFC Bank decided to merge with NBFC Capital First.

There is 1 question to complete.