2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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RBI
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BOB
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SBI
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PNB
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Detailed explanation-1: -The Reserve Bank of India (RBI) has approved Shriram Group’s composite scheme of arrangement and amalgamation of financial services business.
Detailed explanation-2: -Shriram Group had announced the three-way merger in December 2021, wherein the swap ratio was fixed at 100 shares of Shriram City Union Finance for 155 shares of Shriram Transport Finance. The Reserve Bank of India gave its go-ahead for the corporate rejig in June 2022.
Detailed explanation-3: -As a consideration for merger, the shareholders of SCUF will receive 1.55 shares of STFC for every 1 share held in the company.
Detailed explanation-4: -Shriram is a registered Non-Banking Financial Company and comes under the purview of the Reserve Bank of India (RBI).
Detailed explanation-5: -Shriram Founder Mr. R Thyagarajan Honored With Padma Bhushan.