Update on Amalgamation of Sonata Finance Private Limited with BSS Microfinance Limited

Kotak Mahindra Bank has provided an update on the proposed amalgamation of Sonata Finance Private Limited with BSS Microfinance Limited, the bank's wholly-owned microfinance arm. Sonata Finance is being merged into BSS Microfinance, which will consolidate Kotak's microfinance operations under a single entity. The amalgamation is proceeding through the standard scheme of arrangement route. The move is expected to streamline Kotak's microfinance business, improve operational efficiency, and expand its reach in the underbanked segment. Shareholders will be impacted indirectly as this strengthens the bank's microfinance franchise.