Corporate News 02-Feb-23
Ujjivan Small Finance Bank receives RBI nod for scheme of amalgamation
Ujjivan Small Finance Bank announced that the Reserve Bank of India (RBI) vide its letter today, 01 February 2023, has conveyed its “no-objection” to the company's proposal for voluntary amalgamation of Ujjivan Financial Services with Ujjivan Small Finance Bank subject to the fulfilment of certain conditions as stipulated by RBI which inter alia includes obtaining approval from the NCLT, requisite majority of shareholders and creditors of both transferor and transferee companies and ensuring compliance with all applicable statutory and regulatory requirements.
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