ICICI Bank and Apollo India Credit Opportunity Management signs MoU for ARC

Q.  Which bank has signed an MoU with Apollo India Credit Opportunity Management to set up an ARC?
- Published on 02 Aug 16

a. ICICI Bank
b. HDFC
c. IDBI
d. SBI

ANSWER: ICICI Bank
 
ICICI Bank and Apollo India Credit Opportunity Management have signed an MoU to set up an asset reconstruction company.
  • 30 percent of the stake in ICICI Bank will be picked up in the ARC.
  • Current rules do not allow more than 50 percent FDI by an entity in an ARC.

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