PineBridge MF had assets under management (AUM) of only Rs 660 crore. The deal marks a third exit of a foreign fund house in less than a year and underscores the challenging conditions for smaller entities.

"The banking industry is presently in the midst of significant stress. The Jan Dhan Yojana has a great vision, but execution is important.

According to the Competition Commission of India (CCI) the proposed deal "is not likely to have an appreciable adverse effect on competition in India".

Macquarie downgrades the stock to "neutral" from "outperform." Brokerage cites Kotak Mahindra's "massive outperformance"

Kotak Mahindra Capital and Axis Capital will facilitate the process to woo minority shareholders.

Maruti Suzuki's manufacturing will be contracted to the plant in a practice that some experts say is unusual for the industry. The move has been opposed by some shareholders who believe it will undermine the Indian unit and divert income to the parent.

The deal with Kotak was announced on July 20 (Sunday) and the transaction price was Rs 600 per share. On July 18 (Friday), shares of Multi Commodity Exchange of India Ltd (MCX) had closed at Rs 786.25 apiece.

The bonds will improve the bank's asset-liability profile.

Annual payout of the guaranteed income commences after the premium payment term is over. At maturity, a guaranteed maturity benefit is also payable along with the last installment of the increasing guaranteed income.

The deal values MCX at Rs 600 a share, a discount of nearly 24 per cent to Friday's closing price of Rs 783.5 on the National Stock Exchange. Also, there is a steep discount to the price at which MCX issued shares to the public in March 2012 (Rs 1,032 a share).