IndusInd Bank, Bharat Financial enter into merger talks

Bharat Financial Inclusion (BFIL) has entered into an exclusivity agreement with private lender IndusInd Bank to evaluate a merger between the two companies. Bharat Financial has 1,408 branches and employs 15,284 people. The deal will reportedly value BFIL, which has 68 lakh customers and a loan book of around ₹9,631 crore, at about $2.2 billion (over ₹14,000 crore).