Kotak Mahindra Bank exploring takeover of IndusInd Bank: Report

Asia's richest banker Uday Kotak's Kotak Mahindra Bank is exploring takeover of IndusInd Bank in an all-stock deal, Bloomberg reported. If the deal goes through, it would create India's eighth-largest financial firm by assets. The report said Uday Kotak and Hinduja family held initial talks over the proposal, however, IndusInd Bank denied the report and called it "malicious and untrue".