IndusInd Bank and Bharat Financial Inclusion Sign Exclusivity Agreement for Merger
Posted on:12 Sep 2017 09:20:30
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12 September 2017 Current Affairs: Private sector lender IndusInd Bank and India's second largest Microfinance company Bharat Financial Inclusion signed a confidentiality agreement for the proposed merger between them.
The merger would result in lower cost of funds and would help the company offer its customers savings products.
The agreement provides for a mutually agreed exclusivity period for due-diligence and discussions to evaluate a potential strategic combination between the company and BFIL by way of amalgamation through a scheme of arrangement or any other suitable structure.
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