Housing Development Finance Corporation announced that the Reserve Bank of India vide its letter dated 14 March 2019 has granted its in-principle approval to the Corporation to acquire shareholding of 9.9% or less of the paid up voting equity capital of Bandhan upon the effective date of the scheme.
The scheme envisages the amalgamation of GRUH Finance (a subsidairy of the Corporation) into and with Bandhan and dissolution of GRUH without winding up.
The scheme remains subject to various regulatory and statutory approvals.
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