According to the Rs. 15,486 crore all-stock deal, an investor in IndusInd will get 639 shares , for every 1,000 BFIL shares. Rs. 10,971 crore loan books will be absorbed by the bank and treated as so-called priority loans which are loans to agriculture, micro enterprises and weaker sections of the society. The 15,284 employees of BFIL have been assured of not losing their jobs, at least for the first three years after the merger is formalized.
2017-10-23 :IndusInd Bank revises MCLR rates
IndusInd Bank has reduced its marginal cost based lending rate (MCLR) across all tenors. For overnight the rate has been revised to 8.20%, for one month maturities, the rate has been revised to 8.25%, while for three month and six month maturities the rate has been reduced to 8.55% and 8.80%, respectively. For one year maturities, it is 8.85%, for 2 year it is 8.90%, while for 3 year it is at 8.95%. The new MCLR rates are effective from 17th October, 2017.
2017-10-13 :Commercial vehicle sales drive IndusInd net
IndusInd Bank made a net profit of Rs 880 crore for the September quarter. This is an increase of 25% credit growth and was reportedly being driven by retail loans. The month of September has seen the highest ever disbursement of commercial vehicle loans with a 25% growth.
2017-10-03 :IndusInd aims the huge unbanked population
IndusInd Bank has been focusing its growth on the country’s unbanked population which stands at 19%. The bank aims to double its business in terms of clients, loans and profits by 2020 and get at least 10% of its total profits from rural banking, according to its three year-planning cycle.
2017-09-15 :IndusInd Bank partners with ADB to provide loans to rural women
IndusInd Bank has announced that it has partnered with the Asian Development Bank (ADB). The ADB bank has signed a loan of 200 million dollar with IndusInd Bank to provide finance to low income women borrowers in rural India. Meanwhile, ADB will also extend its support to the bank to improve the financial literacy of women borrowers in villages.
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