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      Question

      Which bank  will acquire 100 percent equity shares of

      Sonata Finance Pvt Ltd, from its existing shareholders for Rs 537 crore?
      A Axis Bank Correct Answer Incorrect Answer
      B Punjab National Bank Correct Answer Incorrect Answer
      C Kotak Mahindra Bank Correct Answer Incorrect Answer
      D HDFC Bank Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Kotak Mahindra Bank will acquire 100 percent equity shares of Sonata Finance Pvt Ltd, a non-banking financial company-microfinance institution (NBFC-MFI), from its existing shareholders for Rs 537 crore. This acquisition will enable the bank to scale up its operations in the rural and semi-urban markets in the northern states of India.

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