"In this connection, we advise that we have no objection to the proposed scheme of arrangement subject to conditions laid down by the bank," RBI said in a no-objection certificate issued to IDFC.
The information was shared by infrastructure finance company IDFC Ltd on the BSE.
In April last year, IDFC bagged a licence from the RBI to set up a bank. Besides, Bandhan Financial Services Pvt was another successful entity.
Last year, IDFC received the board's approval to demerge its financial undertaking into a wholly-owned step-down subsidiary IDFC Bank Ltd.
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