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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

India TV News Desk [ Updated: May 27, 2014 18:04 IST ]
rbi 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 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.

 

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