BANKING

"Board of Inditrade Microfinance at its meeting held today reviewed the current status and decided to call off the merger on account of inordinate delay in receiving requisite regulatory and statutory approvals and also significant improvement in sectoral opportunities providing ample scope for substantial growth for the standalone business itself and thus it was considered inappropriate at this stage to lose focus on the growth opportunity and pursue the merger which was taking inordinate amount of time and management bandwidth," the company said.

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