IndusInd Bank receives RBI approval for composite scheme of arrangement

IndusInd Bank announced that the Reserve Bank of India ('RBI') has, vide its letter dated 13 March 2018 conveyed its 'no objection' for the voluntary amalgamation of Bharat Financial Inclusion with the Bank, subject to compliance with the terms and conditions specified therein.

The Scheme remains subject to the receipt of approval from the Stock Exchanges/ SEBI, the National Company Law Tribunal, the respective shareholders and creditors of BFIL and the Bank and other applicable statutory and regulatory approvals.

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