The Competition Commission of India (CCI) has approved the scheme of amalgamation between IndusInd Bank and Bharat Financial Inclusion. The trade regulator intimated that the commission in its meeting considered the proposed combination and approved the same.
However, the scheme remains subject to the receipt of approval from the RBI and regulatory approval including approvals of the stock exchanges, SEBI, the National Company Law Tribunal and respective shareholders.
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. As on June 30, 2017, IndusInd Bank has 1210 branches, and 2090 ATMs spread across 687 geographical locations of the country.
