IDFC Bank and non-banking financial company (NBFC) Capital First has announced the completion of their merger. The merged entity to be called as.....

BANKING GENERAL KNOWLEDGE

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

IDFC Bank and non-banking financial company (NBFC) Capital First has announced the completion of their merger. The merged entity to be called as____

A	IDFC First Bank
B	IDFC Capital Bank
C	Capital IDFC Bank
D	IDFC-NBFC Bank

Explanation:

Detailed explanation-1: -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-2: -IDFC Bank and Capital First merged effective 18th December 2018.

Detailed explanation-3: -IDFC First Bank (formerly IDFC Bank) is an Indian private sector bank formed by the merger of the banking arm of Infrastructure Development Finance Company and Capital First, an Indian non-bank financial institution.

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.