Indiabulls Housing Finance-Lakshmi Vilas Bank merger gets CCI

The Competition Commission of India (CCI) has approved the merger of Indiabulls Housing Finance and Lakshmi Vilas Bank.

Details:

• Lakshmi Vilas Bank is going to merge with Indiabulls Housing Finance.
• It is a share swap deal with an intent to create a combined entity with a larger capital base and wider geographical reach.
• After the merger, Indiabulls Housing Finance will get access to low cost deposits.
• This will result into geographical diversification and expanded client base along with cross selling opportunities.

About the Competition Commission of India (CCI):

• The objectives of CCI is to prevent activities that have an adverse effect on competition in India.
• CCI was founded on 14th October 2003 and has its headquarters in New Delhi.

Question:

Q. The Competition Commission of India (CCI) has approved the merger of Indiabulls Housing Finance and which bank?
a. DCB Bank
b. Federal Bank
c. Lakshmi Vilas Bank
d. South Indian Bank