CCI approves merger of IDFC Ltd with IDFC FIRST Bank

The Competition Commission of India (CCI) has granted approval for the merger of IDFC FIRST Bank with its parent company, IDFC Ltd. The deal, which has been conceived as an all-stock transaction, is subject to certain conditions. The merger process involves two key steps. First, the merger of IDFC Financial Holding into IDFC Ltd, and subsequently, the amalgamation of IDFC Ltd with IDFC FIRST Bank.