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Which regulator approved the acquisition of a part of Deutsche Bank India business by Kotak Mahindra Bank?

  1. A.Securities and Exchange Board of India
  2. B.Reserve Bank of India
  3. C.Competition Commission of India
  4. D.Insurance Regulatory and Development Authority of India

Correct answer

C. Competition Commission of India

Explanation

The correct answer is Competition Commission of India. The competition regulator cleared the proposed combination, which covers both the purchase of the target business and the related referral arrangements between affiliates of the two sides. Option A is wrong because the securities regulator oversees stock markets, listed companies and intermediaries, and it is not the body that clears combinations on competition grounds. Option B is wrong, although the central bank does feature in the story: Kotak Mahindra Bank is described as a scheduled commercial bank licensed by the Reserve Bank of India to carry on banking business, which is a different matter from approving the deal for its effect on competition. Option D is wrong because the insurance regulator has no role here, even though insurance products are among the items distributed by both the acquirer and the target business.

Read the full article: CCI Clears Kotak Bank Buyout of Deutsche Bank India Unit

Practice Questions

Q1.Banking & FinanceMedium

Which business of Deutsche Bank in India is being acquired by Kotak Mahindra Bank?

  1. A.Corporate and investment banking
  2. B.Retail, private banking and wealth management
  3. C.Custody and fund accounting
  4. D.Treasury and foreign exchange dealing room
Show answer
Correct answer: B. Retail, private banking and wealth management

The target business is precisely the retail banking and private banking segment together with the wealth management arm that the seller runs through its branches in India, and it is moving as a going concern on a slump sale basis.

Q2.Banking & FinanceMedium

On which stock exchanges is the equity share capital of the acquirer listed?

  1. A.Only the National Stock Exchange of India
  2. B.Only the Bombay Stock Exchange
  3. C.The Bombay Stock Exchange and the National Stock Exchange of India
  4. D.The Calcutta Stock Exchange and the Bombay Stock Exchange
Show answer
Correct answer: C. The Bombay Stock Exchange and the National Stock Exchange of India

Kotak Mahindra Bank is described as a scheduled commercial bank licensed by the central bank to carry on banking business, with its equity share capital listed on both these exchanges.

Q4.Banking & FinanceEasy

Which attraction has become the first in the United Arab Emirates to accept UPI for e-commerce bookings?

  1. A.Museum of the Future
  2. B.At the Top, Burj Khalifa
  3. C.Dubai Frame
  4. D.Ferrari World Abu Dhabi
Show answer
Correct answer: B. At the Top, Burj Khalifa

NPCI International Payments Limited enabled UPI there in partnership with NEOPAY and Emaar Entertainment, and this is the first attraction anywhere in the Emirates to take UPI for online commerce rather than only for scanning a merchant code.