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    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.

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