NCLT has approved the merger of IndusInd Bank with Bharat Financial Inclusion
NCLT (National Company Law Tribunal) has approved merger of IndusInd Bank with Bharat Financial Inclusion (BFIL), a microfinance company. The merger is expected to complete within 2-4 weeks. Last year, IndusInd Bank received ‘No Objection’ from Reserve Bank of India, National Stock Exchange and Bombay Stock Exchange. Bharat Financial will become a subsidiary of the private lender. IndusInd Bank Ltd’s share price is currently at Rs1,686.85, up by Rs32.25 or 1.95%, from its previous close of Rs1,654.60 on the BSE.