The Competition Commission of India (CCI) approved Kotak Bank's proposal to acquire Standard Chartered's ₹4,100 crore loan book:

The Competition Commission of India (CCI) approved Kotak Bank's proposal to acquire Standard Chartered's ₹4,100 crore loan book:

Daily Current Affairs   /   The Competition Commission of India (CCI) approved Kotak Bank's proposal to acquire Standard Chartered's ₹4,100 crore loan book:

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Category : Business and economics Published on: November 28 2024

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  • In October, Kotak Mahindra Bank Limited announced that it had entered into an agreement to acquire the Personal Loan book of Standard Chartered Bank, India.
  • Effective September 30, 2024, the Proposed Transaction includes a total loan outstanding amounting to approximately Rs 4,100 crore (~$490 million). These loans are categorized as "Standard Loans" in accordance with the guidelines provided by the Reserve Bank of India (RBI).
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