2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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IDFC Capital Bank Ltd
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IDFC First Bank Ltd
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ID First Bank Ltd
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Capital First IDFC Bank Ltd
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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 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-3: -The reverse merger of IDFC with IDFC First Bank is aimed at unlocking value for the former’s shareholders. As such, the exercise offers little benefit to the bank. In fact, the transaction needs to take care of the extent of dilution faced by existing shareholders of the bank.
Detailed explanation-4: -Capital First Limitedis a NBFC with a record of consistent growth and profitability.