Which Indian bank acquired the payments wallet Freecharge from Snapdeal in an all cash deal worth several hundred crore rupees?

Introduction / Context:
Questions about mergers and acquisitions in the financial sector are common in banking and finance interviews. Freecharge was an important digital wallet player in India and its acquisition attracted attention in the fintech and banking space.

Given Data / Assumptions:
- The question states that a bank acquired the payments wallet Freecharge from its then owner in an all cash transaction valued in the range of a few hundred crore rupees.
- Several large Indian banks are listed as options.
- We only need to identify which bank completed this acquisition, not the exact amount or year.

Concept / Approach:
Freecharge was owned by Snapdeal before the sale. In 2017, Axis Bank entered into a share purchase agreement to acquire 100 percent of Freecharge in an all cash deal. The acquisition was part of Axis Bank's strategy to strengthen its digital payments ecosystem, gain access to a large user base and deepen its presence in the fast growing wallet and payments space.

Step-by-Step Solution:
Step 1: Recall that Freecharge was a well known payments wallet and that there was media coverage about which bank acquired it.
Step 2: Connect this acquisition with Axis Bank, which publicly announced the deal and integration plans.
Step 3: Compare with other options. HDFC Bank and ICICI Bank are large private banks, but they did not acquire Freecharge. Karnataka Bank is a smaller private sector bank and is also not associated with this deal.
Step 4: Conclude that Axis Bank is the correct choice.

Verification / Alternative check:
If you check news reports or banking current affairs summaries about digital wallet acquisitions in India around 2017, you will consistently find that Axis Bank is named as the acquirer of Freecharge. This external confirmation supports your memory based reasoning.

Why Other Options Are Wrong:
Option A, HDFC Bank, is active in digital payments but did not acquire Freecharge. Option B, Karnataka Bank, is not known for such a major wallet acquisition. Option C, ICICI Bank, also focuses on digital banking but was not the acquiring bank in this transaction. These banks might have their own wallet products or partnerships, but they are not connected to the Freecharge acquisition described in the question.

Common Pitfalls:
Because several large private sector banks are active in digital initiatives, candidates sometimes mix up which bank acquired which fintech company. A useful way to remember this particular deal is to associate Freecharge with Axis Bank and another major wallet, as an example, with different banks. Keeping a short mental list of high profile acquisitions helps with such current affairs questions.

Final Answer:
Correct option: Axis Bank.