The Reserve Bank of India (RBI) has notified that Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) can now invest from 40% to 42% of the paid up capital of Kotak Mahindra Bank, under the Portfolio Investment Scheme (PIS). Kotak Mahindra Bank has passed resolutions at its Board of Directors’ level and a special resolution by general body agreeing for enhancing the limit from 40% to 42% of the paid up capital of the bank.
The Reserve Bank has notified this under FEMA 1999. Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management. Meanwhile, shares of the Bank were trading at Rs 829.25 apiece, up 0.53 per cent from the previous close at 10:54 hours on BSE.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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