BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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ICICI Bank
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IDBI Bank
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HDFC Bank
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AXIS Bank
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Detailed explanation-1: -On 23 May 2008, HDFC Bank acquired Centurion Bank of Punjab.
Detailed explanation-2: -The merger of Centurion Bank of Punjab Ltd (CBoP) with HDFC Bank Limited became effective on May 23, 2008 as per the order of Reserve Bank of India (RBI) dated May 20, 2008.
Detailed explanation-3: -All the branches of Centurion Bank of Punjab Ltd. will function as branches of HDFC Bank Ltd. with effect from May 23, 2008.
Detailed explanation-4: -In 2008, Centurion Bank of Punjab (CBoP) was acquired by HDFC Bank. HDFC Bank’s board approved the acquisition of CBoP for ₹95.1 billion in one of the largest mergers in the financial sector in India.
Detailed explanation-5: -Synopsis. The biggest merger in Indian banking is about to happen. HDFC Bank will take over Centurion Bank of Punjab (CBoP) in an all-stock deal.