BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The merger of which of the following was the first M and A activity after liberalization?
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GTB and Oriental Bank of Commerce
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Times Bank and HDFC Bank
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New Bank of India and Punjab National Bank
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ICICI and ICICI Bank
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Explanation:
Detailed explanation-1: -The Board of Directors of ICICI Bank Limited (NYSE: IBN) has at its Meeting held in Mumbai today granted its approval for the amalgamation of The Bank of Rajasthan Limited (Bank of Rajasthan) with ICICI Bank.
Detailed explanation-2: -ICICI Bank –Bank of Rajasthan merger is the seventh voluntary merger in Indian banking sector, u/s 44A of the Banking Regulation Act, 1949. This is the ICICI Bank’s fourth acquisition after Sangli Bank. The background of the merger can be traced to the regulatory intervention of SEBI and RBI on Bank of Rajasthan.
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