BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Kotak Mahindra Bank
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Yes Bank
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HDFC
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Axis Bank
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Detailed explanation-1: -CRN merged (Accounts in both Kotak and ING Vysya now Kotak systems)-One single CRN linking all your accounts.
Detailed explanation-2: -On 20 November 2014, in an all-stock amalgamation, ING Vysya Bank decided to merge with Kotak Mahindra Bank, creating the fourth largest private sector bank in India. On 1 April 2015, the Reserve Bank of India approved the merger. On 15 May 2016 the whole merger process was completed.
Detailed explanation-3: -IFSC Code for ING Vysya Bank Thus, the format of ING Vysya Bank’s IFSC code is VYSA0123456.
Detailed explanation-4: -All the branches of ING Vysya Bank Ltd. will function as branches of Kotak Mahindra Bank Ltd. with effect from April 1, 2015.
Detailed explanation-5: -Vysya and Kotak announced (PDF, 349 KB) their intention to merge their respective businesses on 20 November 2014. On 31 March 2015 the Reserve Bank of India has approved this transaction with effect from 1 April 2015.