RBI approves ING Vysya Bank Ltd.- Kotak Mahindra Bank Ltd. Amalgamation

April 01, 2015 / 10:50 IST

The Reserve Bank of India has sanctioned the Scheme of Amalgamation of ING Vysya Bank Ltd. with Kotak Mahindra Bank Ltd. The Scheme has been sanctioned in exercise of the powers contained in Sub-section (4) of Section 44A of the Banking Regulation Act, 1949. The Scheme will come into force with effect from April 1, 2015. All the branches of ING Vysya Bank Ltd. will function as branches of Kotak Mahindra Bank Ltd. with effect from April 1, 2015.Ajit Prasad Assistant General Manager
Press Release : 2014-2015/2076

first published: Apr 1, 2015 10:50 am

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