Private sector lender.....and Indias second largest Microfinance company Bharat Financial Inclusion have signed a confidentiality agreement for the proposed merger between them.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Private sector lender____and India’s second largest Microfinance company Bharat Financial Inclusion have signed a confidentiality agreement for the proposed merger between them.

A	Federal Bank
B	Kotak Mahindra Bank
C	HDFC Bank
D	IndusInd Bank

Explanation:

Detailed explanation-1: -Accordingly, Bharat Financial Inclusion Limited’s shareholders will receive 639 shares of IndusInd for every 1, 000 shares of Bharat Financial Inclusion Limited. This implies a premium of 12.6% to Bharat Financial Inclusion Limited over two-week volume weighted price (VWAP).

Detailed explanation-2: -Mumbai: The board of IndusInd Bank Ltd has approved the merger between the bank and microfinance firm Bharat Financial Inclusion Ltd (BFIL), IndusInd informed the stock exchanges on Saturday. The share exchange ratio for the merger shall be 639 equity shares of the bank for every 1000 equity shares of BFIL.

Detailed explanation-3: -IndusInd Bank Ltd. will complete its merger with Bharat Financial Inclusion Ltd. by July 4, bringing an end to India’s first for-profit microlender. Founded as SKS Microfinance Ltd.

Detailed explanation-4: -Bharat Financial Inclusion Limited (formerly known as SKS Microfinance Limited) BFIL is a banking & finance company (NBFC), licensed by the Reserve Bank of India.

There is 1 question to complete.