"All assets and liabilities of Bharat Financial shall become assets and liabilities of the Bank with effect from the appointed date, being January 1, 2018. Simultaneously with amalgamation, the business correspondent undertaking of Bharat Financial shall be transferred to IFIL, a wholly-owned subsidiary of the Bank. All assets and liabilities originated by IFIL will be booked in the balance sheet of the Bank," IndusInd said in its BSE filing.