Bandhan Bank, Gruh Finance to merge

Kolkata-based Bandhan Bank and Ahmedabad-based Gruh Finance said on Friday that all the regulatory hurdles have been overcome for their merger, with the National Company Law Tribunal (NCLT) clearing the scheme of amalgamation. The scheme has been approved by NCLT's Kolkata and Ahmedabad benches. October 17 has been fixed as the record date following the effectiveness of scheme for determining shareholders of the merged entity. All processes will be completed in a month.