RBI has approved the merger of the two companies i.e. Bharat Financial Inclusion and IndusInd Bank. According to the merger proposal, IndusInd Bank (IIB) will incorporate a wholly-owned subsidiary and transfer the business of Bharat Financial Inclusion to it by way of slump exchange. Shares of Bharat Financial Inclusion and IndusInd Bank are expected to gain today. This is a win-win deal, as both companies will gain competitive advantage, realize synergies, and enhance their financial performance in the medium-to-long term.Key benefits from IIB’s perspective are: i) huge strategic head-start over peers through acquisition of best-in-class capabilities in the MFI space; ii) large rural customer base and branches; ii) ability to cross-sell products to these customers; and iv) improved capitalisation and PSL compliance.
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