The merger of Capital First with IDFC Bank is on the cards. The approval by the shareholders is slated for next month.
- The Shareholders voting is pending
- September 3 would be the date on which IDFC Bank shareholders will vote followed by Capital First Shareholders later in the month.
- The merged entity will have Mr. Vaidyanathan as the new Managing Director and CEO. He would succeed Rajiv Lall.
- Though lending to the Corporates would be on the cards, the main focus of lending would be to the small entrepreneurs, a statement released states.
- The merged entity expects to contribute more for the Indian Economy in the days to come.