The stock of Equitas and Ujjivan holding companies along with their respective Small finance banks surged in trade as the Reserve Bank of India permitted small finance banks and respective holding companies to apply for the amalgamation of holding company with small finance bank. This has to be done (Three) months prior to completing five years from the date of commencement of business of small finance bank. The merger is subject to RBI’s No-Objection based on satisfactory due diligence. Both Ujjivan and Equitas have stated that they would be initiating necessary steps for amalgamation of their respective holding companies with their respective Small Finance banks.
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