Kotak Mahindra-ING Vysya merger gets RBI approval
The merger deal between Kotak Mahindra Bank and ING Vysya Bank has received the Reserve Bank's approval, which would create the country's fourth largest private sector lender. The scheme of amalgamation (of Kotak Mahindra Bank and ING Vysya Bank) shall come into effect from April 1, 2015. Following the merger, all the tangible and intangible assets have been transferred to Kotak Mahindra Bank.
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