IDFC Bank acquires Grama Vidiyal

Q.  Which bank that started banking operations in October 2015 will acquire Grama Vidiyal, a Tiruchi based micro finance institution?
- Published on 13 Jul 16

a. IDBI
b. IDFC
c. AIIB
d. WB

ANSWER: IDFC
 
IDFC Bank, which started banking operations only in October last year, will be acquiring Grama Vidiyal, a Tiruchi-headquartered microfinance institute, in an all cash deal.
  • The value of the transaction, however, was not disclosed.
  • The MFI will also be a subsidiary for the business correspondent operations of the business.
  • This marks the first acquisition of an MFI by a bank in this industry.

Related Content

➨ Post your comment / Share knowledge


Enter the code shown above:

(Note: If you cannot read the numbers in the above image, reload the page to generate a new one.)
▲