Merger News
RBI no to BASIX, Ratnakar marriage proposal
The Reserve Bank of India (RBI) has shot down a proposal for merger of an old generation private sector bank and a new-age microfinance institution.
Kohlapur-based Ratnakar Bank and BASIX, promoted by social entrepreneur Vijay Mahajan, had sounded out RBI for merging their businesses.
While no formal application was made, both discussed the possibility with senior RBI officials, sources said.
The merger
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