Bandhan Bank Gets RBI Nod To Acquire Gruh Finance

Reserve Bank of India provided no objection to Bandhan Bank for the proposed acquisition of Gruh Finance. Gruh Finance Limited is an Ahmedabad headquartered Subsidiary of HDFC Limited.

It is a Housing Finance Company (HFC) recognized by the National Housing Bank (NHB) and it was taken over in January by Bandhan Bank in a share-swap deal. India’s largest mortgage lender HDFC can hold 9.9% in the bank, according to its exchange filing. That’s the maximum a non-banking finance company can own in a private bank. HDFC had sought approval for 14.96%.

Source: BloomburgQuint 

Static/Current Takeaways Important for LIC AAO Exam:

  • Bandhan Bank headquarters: Kolkata.

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