BSE-USE merger gets regulatorynod

Securities and Exchange Board of India (SEBI) and Competition Commission of India (CCI) have granted approval to the proposed merger of United Stock Exchange of India Limited (USE) with BSE Limited.

The two exchanges had agreed to merge with each other in May this year. BSE held around 14.56% stake in USE, which has over two dozen other shareholders.

"The merger with USE would bring its 27 public sector, private sector and foreign shareholder banks," BSE said in a release.