The Reserve Bank Of India (RBI), has given approval to Capital First and IDFC Bank for the scheme of amalgamation.

Reserve Bank of India (RBI) conveyed no objection for the voluntary amalgamation of Capital First, Capital First Home Finance and Capital First Securities with IDFC Bank, subject to compliance with the terms and conditions specified therein.

Further, the Scheme is subject to receipt of approval from the respective shareholders and creditors of the amalgamated company and the amalgamating companies, National Company Law Tribunal, and other statutory and regulatory approvals, if any.

Read EquityPandit’s Technical Analysis of Nifty Bank Outlook for the Week