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.

Practice Next
×
×