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Kotak Mahindra Bank's subsidiaries Sonata Finance and BSS Microfinance plan to merge.
Kotak Mahindra Bank's subsidiaries Sonata Finance and BSS Microfinance have approved a merger plan.
The merger, subject to shareholder, creditor, and regulatory approval, involves Sonata Finance merging with BSS Microfinance.
Both companies provide microfinance, unsecured small-ticket loans, and small-value secured loans to women borrowers and individuals on behalf of Kotak Mahindra Bank.
The combined net worth of Sonata and BSS is less than 2% of Kotak Mahindra Bank's net worth.
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Las filiales de Kotak Mahindra Bank, Sonata Finance y BSS Microfinance planean fusionarse.