IndusInd Bank has received approval from RBI, to acquire the securities services arm of IL&FS.

The bank in a regulatory filing stated, “The Reserve Bank has granted approval for the proposed acquisition.” However, it did not disclose the size of the deal.

Moreover, last year in March, the bank had signed an agreement with Infrastructure Leasing and Financial Services, the promoter shareholder of IL&FS Securities Services Ltd (ISSL), to acquire 100% stake in ISSL.

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