IndusInd Bank emerged as frontrunner for deal with Bharat Financial: Sources

Private sector lender IndusInd Bank has emerged as frontrunner for deal with non-banking finance company Bharat Financial Inclusion, according to sources that told CNBC-TV18.

IndusInd Bank will discuss merger proposal with the board this week and Bharat Financial's MR Rao is likely to present IndusInd's offer to its board next week.

IndusInd Bank, Bharat Financial deal will be share-swap deal, sources said, adding the deal is likely by mid-September.

IndusInd Bank & Bharat Financial are yet to respond to CNBC-TV18's query.