Private sector lender IndusInd Bank and India’s second largest Microfinance company Bharat Financial Inclusion have signed a confidentiality agreement for the proposed merger between them.
The Hinduja Group controlled bank has informed the exchanges about an ‘exclusivity agreement’ with the micro lender to explore merger or expansion plans. The deal between the two companies may formalise after due diligence, definitive documentation and their shareholders, regulatory, NCLT and other third-party approvals, as applicable.
Important Takeaways from Above News-
- R. Seshasayee is the present Chairman of IndusInd Bank.
- It Headquarters in Mumbai.
Source- The Hindu