13th-Aug-2010 11:35Source: NSE

THE BANK OF RAJASTHAN LIMITED Amalgamation/Merger

The Bank Of Rajasthan Limited has informed the Exchange that the Reserve Bank of India vide their Order dated August 12, 2010 has approved the scheme of amalgamation under the provisions of section 44A of the Banking Regulation Act, 1949 : (1) The effective date of amalgamation is close of business hours on August 12, 2010; (2) The RBI has fixed Rs. 154.50 per share as the price for the dissenting shareholders of Bank of Rajasthan Ltd.; (3) Pursuant to the order of amalgamation from RBI, Shri G. Padmanabhan, Managing Director & C.E.O. appointed by RBI with effect from November 20, 2009, has stepped down from August 13, 2010.