Which of the following banks is ready to acquire Micro finance Grama Vidiyal?

a. Bandhan Bank

b. IDFC Bank

c. Kotak Mahindra Bank

d. HDFC Bank

ANSWER: IDFC Bank

Explanation:

Private sector lender IDFC Bank announced the acquisition of Tamil Nadu-based Grama Vidiyal Micro finance that will help it widen the reach.

IDFC Bank claims that it is the first time an Indian bank has acquired a micro-finance institution.

Prior to this, the bank had purchased 10% stake in Dhaka-based ASA International in January for nearly Rs 8.5 crores.

IDFC received a universal banking license from the Reserve Bank of India (RBI) in July 2015.

IDFC Bank

Founded : October, 2015

Headquarter : Mumbai, Maharashtra

Current Head : Dr. Rajiv Lall (MD & CEO)