The Competition Commission of India (CCI) has approved Kotak Mahindra Bank's acquisition of Standard Chartered Bank's unsecured personal loan book.
The loan portfolio, valued at ₹4,100 crore as of September 30, 2024, comprises loans categorized as 'standard' under RBI norms. Kotak Mahindra finalized this deal in October 2024, marking a significant addition to its retail lending segment. This move aligns with Kotak’s strategy to expand its consumer banking business, leveraging Standard Chartered’s established customer base in unsecured personal advances.