Reverse merger of IDFC-IDFC First Bank

• RBI has approved the reverse merger of IDFC Limited with its banking arm, IDFC First Bank.

• This strategic move includes an overall plan, which is subject to regulatory approvals.

• The Reserve Bank of India (RBI) has approved the reverse merger of IDFC Limited with its banking subsidiary IDFC First Bank.

• The respective boards of IDFC First Bank and IDFC had earlier given the green signal to the reverse merger in July.