Kotak Mahindra Bank to acquire microfinance institution Sonata Finance
Kotak Mahindra Bank (KMBL) has agreed to acquire Sonata Finance Private Limited (SFPL), an Indian non-banking finance company, from existing shareholders for about INR 537 crores in cash. Headquartered in Lucknow, Sonata Finance provides micro finance loans to economically weak people and especially to ladies via joint liability group (JLG) and individual lending (IL) mode. […]