Which bank will acquire micro-finance Grama Vidiyal?
Q. Which of the following banks is ready to acquire Micro finance Grama Vidiyal?- Published on 17 Feb 17
a. Bandhan Bank
b. IDFC Bank
c. Kotak Mahindra Bank
d. HDFC Bank
ANSWER: IDFC Bank
Private sector lender IDFC Bank announced the acquisition of Tamil Nadu-based Grama Vidiyal Micro finance that will help it widen the reach.
IDFC Bank claims that it is the first time an Indian bank has acquired a micro-finance institution.
Prior to this, the bank had purchased 10% stake in Dhaka-based ASA International in January for nearly Rs 8.5 crores.
IDFC received a universal banking license from the Reserve Bank of India (RBI) in July 2015.
Founded : October, 2015
Headquarter : Mumbai, Maharashtra
Current Head : Dr. Rajiv Lall (MD & CEO)