IndusInd Bank approves merger with Bharat Financial
IndusInd Bank on Saturday said it will acquire microfinance firm Bharat Financial Inclusion (BFIL), a move that will help it "deepen the reach and widen the delivery mechanism of banking service". IndusInd will exchange 639 of its shares for every 1,000 shares in Bharat Financial. The transaction is subject to approvals from the RBI, SEBI, NCLT, and shareholders among others.