Shareholders approve the merger of IDFC First Bank and IDFC Limited.

New Delhi, May 18 (Hindustan Reporter) The merger process of IDFC Limited with private sector IDFC First Bank has taken a step forward. Shareholders of IDFC First Bank have approved the merger of the bank with IDFC Limited.

In the information given to the stock market, the bank said that in the meeting convened by the Chennai bench of the National Company Law Tribunal (NCLT) on May 17, the shareholders have given their majority approval to the integration. The Reserve Bank of India (RBI) had already given No Objection Certificate (NOC), while the boards of both have already approved this merger.

IDFC First Bank stock saw a rise in Saturday's special session in the stock market. The bank's shares closed at 77.45, up 0.25 percent.