04 April 2018

IndusInd Bank Gets RBI Nod to Acquire IL&FS Arm

IndusInd Bank Gets RBI Nod to Acquire IL&FS Arm


Private sector lender IndusInd Bank has received RBI's approval to buy the securities services arm of IL&FS. 

In March 2017, the bank entered an agreement with Infrastructure Leasing and Financial Services, the promoter shareholder of IL&FS Securities Services Ltd (ISSL), to acquire 100% stake in ISSL.

Source- The Economic Times

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • IndusInd Bank commenced operations in 1994
  • IndusInd Bank Chairman- R. Seshasayee, Headquarter- Mumbai, Owner- Hinduja Group.

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