Kotak Bank to buy Rs.4,100-Cr personal loan book of Stanchart

Kotak Mahindra Bank Ltd is set to acquire the personal loan book of Standard Chartered Bank, India which comprises a total debt outstanding of around INR 4,100 crore (about USD 490 million) as of September 30, 2024. It consists of loans classified Standard Loans as per the Reserve Bank of India (RBI) guidelines.