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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which among the following Banks has announced the acquisition of Snapdeal-owned mobile payments provider Freecharge in an all-cash deal worth Rs385 crore?

A	Bandhan Bank
B	Kotak Mahindra Bank
C	HDFC Bank
D	Axis Bank

Explanation:

Detailed explanation-1: -Axis Bank buys Freecharge from Snapdeal for Rs 385 crore in all-cash deal.

Detailed explanation-2: -Axis Bank acquired Freecharge from Snapdeal in a Rs 385 crore ($60 million) deal in July 2017. Before that, Freecharge’s original founders Kunal Shah and Sandeep Tandon sold the wallet platform to Snapdeal for about Rs 3, 000 crore ($400 million) in April 2015.

Detailed explanation-3: -The country’s third largest private sector lender Axis Bank today said it has acquired payments wallet Freecharge for Rs 373 crore in an all-cash deal and appointed Sangram Singh as its CEO.

Detailed explanation-4: -Axis Bank acquired an 100% shareholding of Freecharge for Rs. 385 crores outside its main line of business with an expectation to help the bank take a leap towards digital distribution of financial products to provide its customers in a more efficient manner.

Detailed explanation-5: -Axis Bank, India’s third largest private bank, has acquired Snapdeal-owned payment platform, Freecharge for about $60 million.

There is 1 question to complete.