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Oct 20, 2023 · Kotak Mahindra, on Friday, received approval from the Reserve Bank of India to acquire Sonata Finance for ₹ 537 crore, the company said in its filing on Friday. Kotak Mahindra Bank's shares were ...
In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd. Effective April 1, 2015, ING Vysya Bank Ltd. merged with Kotak Mahindra Bank Ltd.
Nov 12, 2023 · It is better to be stupid now than sorry later.”. However, Kotak regrets some hesitation. Five years after Kotak Mahindra became a bank in 2003, Wall Street plunged the world into financial ...
Mar 28, 2024 · Kotak Mahindra Bank announced the acquisition of NBFC Sonata Finance Pvt Ltd for Rs 537 crore. Sonata operates across 10 states through 549 branches, holding an Asset Under Management (AUM) of around Rs 2,620 crore as of December 31, 2023. The acquisition makes Sonata a wholly-owned subsidiary of Kotak Bank. Kotak Mahindra Bank on Thursday said ...
Oct 20, 2023 · Private lender Kotak Mahindra Bank Ltd had entered into share purchase agreements with the shareholders of Sonata Finance Private Ltd, a non-banking finance company, to acquire a 100% stake for ₹537 crore. The bank says the RBI has also approved the Kotak Mahindra Bank-Sonata Finance deal, and now Sonata will be its wholly-owned subsidiary.
Company History - Kotak Mahindra Bank 1985 - The company was incorporated on 21st November 1985 under the name Kotak Capital Management Finance Ltd.
Sep 2, 2023 · As per public disclosures, Kotak Mahindra Finance got a banking licence from the Reserve Bank of India (RBI) in February 2003 and became the first non-banking finance company (NBFC) in India to ...
