GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Bank of Rajasthan was merged with
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SBI
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IDBI
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ICICI
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HDFC
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Explanation:
Detailed explanation-1: -The Board has approved a share exchange ratio of 25 shares of ICICI Bank for 118 shares of Bank of Rajasthan, which works out to one ICICI Bank share for every 4.72 Bank of Rajasthan shares, and falls within the range recommended by Haribhakti & Co.
Detailed explanation-2: -In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank.
Detailed explanation-3: -The bank was founded as the Industrial Credit and Investment Corporation of India Bank, before it changed its name to ICICI Bank.
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