Kotak Mahindra Bank has completed the acquisition of Rs 3,300 crore personal loan portfoilio of Standard Chartered Bank India following regulatory approvals.

In an exchange filing, Kotak Mahindra Bank said: “After having received the necessary regulatory approvals and upon fulfillment of the relevant conditions precedent, the bank on January 23, 2025, completed the acquisition.”

The private sector bank has picked up the entire quantum of the foreign lender's personal loans classified as standard advances.

The announcement to this effect was made in October last year.

The acquisition comes at a time when the Reserve Bank of India has been flagging risks on unsecured, personal loans.