Competition Commission of India (CCI) has approved the merger of the Indiabulls Housing Finance and Lakshmi Vilas Bank.
Lakshmi Vilas Bank is going to merge with Indiabulls Housing Finance in a share swap deal with intent to create a combined entity with a larger capital base and wider geographical reach.
After the merger, Indiabulls Housing Finance will get access to low cost deposits, geographical diversification and expanded client base and cross selling opportunities.
Source: The Live Mint
Static/Current Takeaways Important For ESIC/EPFO Mains:
- MD & CEO of Lakshmi Vilas Bank: Parthasarathi Mukherjee.