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| Exchange Received Time 13/03/2018 21:05:39 Exchange Disseminated Time 13/03/2018 21:05:44 Time Taken 00:00:05 | No Objection by the Reserve Bank of India to the proposed Amalgamation of Bharat Financial Inclusion Limited (formerly known as 'SKS Microfinance Limited') with IndusInd Bank Limited.
This is in relation to the Composite Scheme of Arrangement ('Scheme') between IndusInd Bank Limited ('Bank') and Bharat Financial Inclusion Limited (formerly known as 'SKS Microfinance Limited') ('BFIL')
In this regard, we would like to inform you that the Reserve Bank of India ('RBI') has, vide its letter dated March 13, 2018 conveyed its 'no objection' for the voluntary amalgamation of BFIL with the Bank, subject to compliance with the terms and conditions specified therein.
The Scheme remains subject to the receipt of approval from the Stock Exchanges/ SEBI, the National Company Law Tribunal, the respective shareholders and creditors of BFIL and the Bank and other applicable statutory and regulatory approvals.
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