Bank of India Sells Stake in CIBIL

2019 ias preliminary exam test series

Bank of India (BoI) has sold its entire 5 per cent stake in credit information firm Trans-Union CIBIL Ltd to Trans-Union International Inc for Rs. 190.62 crore.

The deal was concluded on March 22 at the rate of Rs. 1,525 per equity share for a total consideration amount of Rs. 190.62 crore.

CIBIL, which began operations in August 2000, was formed as a joint venture between banks and TransUnion.

Lenders including State Bank of India and HDFC have sold stakes to TransUnion in the past.

Current Affairs for IAS Exam