Kotak Mahindra, Federal Bank line-up to acquire StanChart's India credit-card-only customers; Offer review underway

Standard Chartered is considering offers from Kotak Mahindra Bank and Federal Bank for its Indian credit card customers. This move aligns with the bank's strategy to reduce focus on single-product clients. The sale involves up to 600,000 customers who only have credit cards. This divestment aims to improve profitability by shedding non-core assets.