National Company Law Tribunal (NCLT) approved the merger of private sector lender IndusInd Bank with Bharat Financial Inclusion (BFIL), a microfinance company.
Earlier, IndusInd Bank had 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.
Source: Economic Times
Static/Current Takeaways Important for LIC AAO Exam:
- IndusInd Bank Headquarter: Mumbai, CEO: Romesh Sobti.
- NCLT Headquarter: New Delhi.