 "Kotak Mahindra Bank")
Private sector lender Kotak Mahindra Bank on Friday said it will acquire 100 per cent equity shares of Sonata Finance Pvt Ltd, a non-banking financial company-microfinance institution (NBFC-MFI), from its existing shareholders for Rs 537 crore.
The acquisition will be subject to regulatory approvals, including by the Reserve Bank of India (RBI).
Post-acquisition, Sonata Finance will be a wholly owned subsidiary of the bank. This acquisition will enable the bank to scale up its operations in the rural and semi-urban markets in the northern states of India
It will make the bank a significant player in financial inclusion, catering to economically weaker and
