The proposed merger could redefine the competitive landscape for banks, and increase the prominence of M&A among banks seeking to close market-share gap with the merged HDFC Bank
The amalgamation of the two entities will provide further impetus to the Government’s vision of “Housing for Allâ€.
The company will subscribe 12,50,000 shares under the first tranche of IBBIC's Rights Issue.
As of February 04, 2022, banks have deployed their funds to the tune of Rs9,654 crore towards COVID-19 related emergency health services.
AU Bank, Cholamandalam Investment and Finance Company also emerged as bullish stocks; SBI Life dragged the most.
The third-quarter earnings for FY22 have taken focus as well. IT stocks are among top laggards ahead of major Q3 results announcement.
The RBI on Tuesday said it has cancelled the licence of The Karad Janata Sahakari Bank Ltd, Karad, Maharashtra, as it does not have adequate capital and earning prospects. More than 99% of the depositors of the bank will get full payment of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC), the Reserve Bank said in a statement.
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