India cbank tightens merger rules for non-bank finance firms

MUMBAI Mon May 26, 2014 10:18am EDT

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MUMBAI May 26 (Reuters) - The Reserve Bank of India on Monday tightened merger rules for non-bank finance companies, requiring them to obtain central bank permission to acquire or merge with any similar entity.

Previously, only deposit-taking non-bank finance companies required central bank approval for a takeover or merger, the RBI said. (Reporting by Suvashree Dey Choudhury)

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