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%.
Static/Current Takeaways Important for LIC AAO Exam:
- Bandhan Bank headquarters: Kolkata.