Kotak Bank receives final RBI approval on dilution of promoters' shareholding
Updated : February 19, 2020 02:35 PM IST
The RBI gave its in-principle acceptance for reducing promoters' shareholding to 26 percent of the paid-up voting equity share capital of the bank within six months from the date of final approval of the regulator.
Kotak Mahindra Bank on January 30 had said that it decided to cap the promoters' voting rights to 15 percent from April 1 onwards. The RBI accepted promoters' voting rights to be capped at 20 percent till March.