Federal Bank to be Link with Kotak Mahindra Bank? Here are the Full Details!!! Federal Bank, one of India’s leading private banking sectors is said to be merging with Kotak Mahindra Bank. But the Federal Bank denied the reports. In other words, talks are being held regarding the merger of Federal Bank and Kotak Mahindra Bank.
But in a statement issued by the Federal Reserve Bank, clarified that the information is speculative and no such information has been carried out to date. However, Kotak Mahindra Bank did not comment on the matter yet. Earlier, there was a report that both Kotak Mahindra and Federal Bank would be merged. The report said Federal and Kotak Bank were in talks over a possible merger deal.
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Moreover, the shares of Federal Bank rose nearly 7 percent to trade at Rs 127.45 a share after the report. In this situation, Federal Bank has now clarified that the news is spreading among some sources that Federal Bank is likely to merge with Kotak Mahindra Bank. Federal Bank has a network of around 1,300 banking outlets and 1,886 ATMs/recyclers across India, to be mentioned.
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