The Competition Commission of India (CCI) has approved the merger of IDFC Bank and Capital First. The merger, however, is to secure RBI’s approval. IDFC Bank and Capital First had announced their merger in January to create a combined entity with assets under management of Rs 88,000 crore and a customer base of 50 lakh. Besides, RBI approval, the two entities have also to complete formalities at Securities and Exchange Board of India and at two National Company Law Tribunals in Chennai and Mumbai.
