RBL Bank sells Rs.800-Cr stressed credit card loans to Kotak Bank: report

RBL Bank has offloaded almost INR 800 crore of its credit card portfolio at a steep discount to fellow publicly listed, private sector lender, Kotak Mahindra Bank. Kotak Bank is reported to have acquired the credit card portfolio for INR 20 crore in an all-cash deal. Credit card repayment delays account for about one-fifth of the total gross non-performing assets (NPA) of RBL Bank.