CURRENT AFFAIRS

Detailed explanation-1: -NCLT Mumbai approves IndusInd Bank and Bharat Financial Inclusion Ltd merger.

Detailed explanation-2: -Specs of the merger; albeit preliminary… So, at the current market price and assuming a stock swap ratio of 1.75, IndusInd Bank share capital will be diluted to the extent of another 7.89 shares to be issued to shareholders of Bharat Financial.

Detailed explanation-3: -IndusInd Bank will complete its merger with Bharat Financial Inclusion by July 4. 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: -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-5: -Bharat Financial Inclusion Limited (formerly known as SKS Microfinance Limited) BFIL is a banking & finance company (NBFC), licensed by the Reserve Bank of India.