NewsBusinessRBI asks Kotak Mahindra Bank to cut promoter stake
RBI asks Kotak Mahindra Bank to cut promoter stake
Mumbai: The Reserve Bank of India (RBI) has asked Kotak Mahindra Bank Ltd to cut its promoter holding to 40% by September 2014 from 43.58%, the private sector lender said in a notice to the
rbi asks kotak mahindra bank to cut promoter stake
India TV News DeskPublished : May 27, 2014 17:59 IST Updated : May 27, 2014 18:04 IST
Mumbai: The Reserve Bank of India (RBI) has asked Kotak Mahindra Bank Ltd to cut its promoter holding to 40% by September 2014 from 43.58%, the private sector lender said in a notice to the stock exchange.
Promoter holding has to be further cut to 30% by 31 December, 2016, the bank said.
Besides Kotak, Yes Bank Ltd with over 25% promoter holding and DCB Bank Ltd with over 18% holding may also be asked to reduce their promoter stake.
