Kotak gets CCI's nod to buy StanChart's personal loans portfolio

The Competition Commission of India (CCI) has approved Kotak Mahindra Bank's acquisition of Standard Chartered Bank India's personal loans portfolio for ₹4,100 crore. The deal was earlier announced in October this year. The acquisition involves transfer of an unsecured personal loan book from Standard Chartered Bank's India arm to Kotak Mahindra Bank.