2018
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which bank To Be Renamed as IDFC First Bank?
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IDFC Bank
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SBI Bank
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Yes Bank
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Dena Bank
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Explanation:
Detailed explanation-1: -IDFC FIRST Bank was founded by the merger of Erstwhile IDFC Bank and Erstwhile Capital First on December 18, 2018.
Detailed explanation-2: -The merger will give IDFC First bank access to nearly ₹4, 000 crore of capital, a bulk of which came from IDFC Ltd selling its mutual fund business to Bandhan Bank. IDFC Ltd shareholders are likely to benefit from the clean-up of the bank’s balance sheet and the groundwork laid for the retail loans growth take-off.
Detailed explanation-3: -IDFC and IDFC First Bank Merger details: In a regulatory filing on December 30, 2021, IDFC First Bank had given approval for the merger of IDFC and IDFC First Bank.
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