Bandhan Bank gets shareholders' nod to merge Gruh Finance

Bandhan Bank on Tuesday said it has received approval of its shareholders for the proposed acquisition of Gruh Finance. Bandhan Bank had agreed to takeover Gruh Finance, the affordable housing finance arm of HDFC Ltd, in a share swap deal in January. "We further inform that the resolution to approve the Scheme of Amalgamation was passed with requisite majority by the equity shareholders of the Bank," the Kolkata-based bank said in a regulatory filing. In April this year, the bank had got nod from the Competition Commission of India (CCI) for the acquisition. The Reserve Bank of India had given its approval in March.