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

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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.