Merger Of IDFC, IDFC Financial With IDFC First Bank Gets PFRDA Approval

The Pension Fund Regulatory and Development Authority has approved the merger of IDFC Ltd. and IDFC Financial Holding Co. with IDFC First Bank Ltd.The merger remains subject to various statutory and regulatory approvals, including from the RBI, the NCLT and the respective shareholders of the companies involved in the scheme, according to an exchange filing on Monday.

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