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Bharat Financial gets Indian bourses' nods for merger with IndusInd Bank

The National Stock Exchange of India and Bombay Stock Exchange have cleared Bharat Financial Inclusion Ltd's proposed merger with IndusInd Bank Ltd., following comments received from the Securities and Exchange Board of India.

Bharat Financial Exclusion obtained no-objection letters from the two bourses June 1 and June 4, respectively, according to a June 5 release.

In October 2017, IndusInd Bank signed a deal to acquire Bharat Financial Inclusion in an all-stock transaction.