Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank has agreed to subscribe 4,995 Equity Shares in Ferbine for a consideration of Rs 49,950 translating into an equity shareholding of 9.99% on February 25, 2021. Kotak Mahindra Bank and its subsidiaries in the normal course of business may have business dealings with Ferbine in future at an arm’s length. Ferbine’s main business would be to operating a pan India umbrella entity for retail payment systems, as would be allowed/licensed by RBI, subject to approval of the PUE application.

Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.