RBI Approves Merger Of Utkarsh CoreInvest with Utkarsh Small Finance Bank

The Reserve Bank of India has approved the amalgamation of Utkarsh CoreInvest Limited with Utkarsh Small Finance Bank Limited, the bank said in an exchange filing.

In September, the board of Utkarsh Small Finance Bank had approved the merger with its parent company, which aims to simplify operations, enhance shareholder value, and create a stronger entity.

The merger of Utkarsh Small Finance Bank with parent Utkarsh CoreInvest Ltd will get completed within the next 12-13 months, Chief Executive Officer and Managing Director Govind Singh had told NDTV Profit in October.