Which bank has signed an agreement to buy a stake in a subsidiary of BSE's India International Exchange (INX)?

Options

A. AXIS Bank
B. HDFC Bank
C. ICICI
D. Yes Bank

Answer

C

Explanation

ICICI Bank has entered into an agreement with the BSE to buy a stake in its subsidiary INX - located at GIFT City Gujarat - for nearly Rs 31 crore.
India International Exchange (INX) - a wholly-owned subsidiary of the BSE - is India.s first international exchange at International Financial Services Centre (IFSC) in GIFT City.
The investment is subject to regulatory approvals and comes at a cash consideration of up to Rs 305 million in tranches to acquire up to 9.9 per cent shareholding in INX, ICICI Bank said in a regulatory filing.