RBI approves Zurich Insurance's 70% acquisition of Kotak General for ₹5,560 crore.

Banking & Finance

The Reserve Bank of India (RBI) has given its nod to Zurich Insurance Company for the proposed acquisition of 70% shareholding in Kotak Mahindra General Insurance. The acquisition is valued at ₹5,560 crore. In another development, Kotak Mahindra Bank has announced a new revision of charges for several services associated with its salary and savings accounts.


      The development came after Kotak Mahindra Bank in February said that Zurich Insurance would acquire a majority stake in Kotak General in a single tranche.

      These changes include updates to the average balance requirements, free transaction limits, ATM transaction limits, standing instruction failure fees, and chequebook limits.

     

 

     


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CEO -Shaktikanta Das
HQ - New Delhi
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