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Bandhan Bank, GRUH Finance to merge Oct. 17

India's Bandhan Bank Ltd. and GRUH Finance Ltd. set Oct. 17 as the effective date and record date for their proposed merger.

The announcement came after India's National Company Law Tribunal cleared the merger, according to separate Oct. 4 filings. Under a share swap deal announced in January, Bandhan Bank agreed to acquire and merge with GRUH Finance.

The companies obtained approvals from the Reserve Bank of India and the Competition Commission of India in March and April, respectively.