IDFC Bank Acquires Grama Vidiyal Micro Finance, Shares Rally

IDFC Bank on Tuesday announced the acquisition of Grama Vidiyal Micro Finance Ltd, leading to over 12 per cent rally in its shares. Grama Vidiyal has assets under management of Rs 1,502 crore as on March 31, 2016. All loan assets on the book will be transferred to IDFC Bank, the lender said in a statement. "Grama Vidiyal is a perfect fit, as its business values and service philosophy aligned with that of IDFC Bank. The bank plans to...