Kotak Mahindra Bank and Union Bank of India are issuing notes through DIFC Branch in Dubai, relying on credit ratings.

The entities involved

• S&P Global Ratings →

  credit rating agency, subsidiary of S&P Global

  • S&P Global Ratings raised its GDP growth forecast for Oman.Sun 13:21
  • S&P Global Ratings assigned a credit rating to Stratford.Fri 22:26
• Kotak Mahindra Bank →

  Indian private sector bank headquartered in Mumbai

  • IT companies, auto manufacturers, and banks are listed on the Indian stock market, with market performance influenced by global cues like the rise in crude oil prices.Sat 03:31
  • Indian stocks showed mixed performance on July 6, 2026, amid monitoring of elevated crude oil prices.Sat 03:31
• Union Bank of India →

  Indian government-owned banking company

  • Insolvency proceedings have been initiated against Union Bank of India regarding a Rs 432-crore default, involving a revival process and intervention by the Supreme Court.Sun 23:54

Related events

• S&P Global Ratings affirmed the sovereign credit rating of the United Arab Emirates economy.Sep 5
• S&P Global Ratings assessed the credit profile of Bank of India on September 8, 2026.Sep 8
• S&P Global Ratings rated Yes Bank's dollar bond as State Bank of India led a consortium to rescue the private lender.Aug 17
• Bank of Baroda, Union Bank of India, and State Bank of India are competing in the state-run banking sector and conducting bond issuances through Dubai.Aug 25
• S&P Global Ratings issued a rating that supports international funding market access for IDFC FIRST Bank.Sep 9