IndusInd to merge with Bharat Financial Inclusion on July 4

IndusInd Bank on Wednesday said its merger with Bharat Financial Inclusion (BFIL) will be effective from July 4. BFIL's current CEO MR Rao will take charge as CEO of IndusInd Financial Inclusion, which will house the Business Correspondent undertaking of BFIL. "The merger...will enable our 8.8 million microfinance customers to access savings, deposits and other banking products," Rao said.