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IDFC-IDFC First Bank merger: RBI approves IDFC-IDFC First Bank merger

The Reserve Bank of India (RBI) has granted approval for the reverse merger of IDFC Ltd with its banking subsidiary, IDFC First Bank. The composite scheme involves the merger of IDFC Financial Holding Company with IDFC and then the merger of IDFC into IDFC First Bank. The scheme is subject to various approvals, including from the National Company Law Tribunal and shareholders

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