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Shriram Groups, IDFC Ponder Over a Mega Merger
July 12, 2017
IDFC Bank and Shriram Groups are thinking of combining some or all of their businesses together which will allow them to expand consumer lending, traditional banking, and truck financing. It will also open a gateway for chairman Ajay Piramal to venture into the banking industry which is otherwise highly regulated.
A meeting has been scheduled for Saturday in which Shriram City Union, the board of Shriram Capital, and Shriram Transport Finance will discuss a potential merger with the IDFC Bank.
