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IDFC Bank announces merger with Capital First

Mumbai, Jan 13 (IANS) IDFC Bank on Saturday announced its merger with non-banking financial company Capital First.

"The Board of Directors of IDFC Bank Ltd... have considered and approved a composite scheme of amalgamation of Capital First Ltd, Capital First Home Finance Ltd and Capital First Securities Ltd..." IDFC Bank informed the BSE in a regulatory filing.

The regulatory filing said the board has appointed Bipin Gemani as the interim Chief Financial Officer and key Managerial Personnel of the bank with effect from January 13.