Kotak Mahindra Bank has been directed by the Reserve Bank of India (RBI) to bring down its promoter shareholding to 40% by September 30, 2014 per estimates provided by the bank. The next estimate is 30% by December 31, 2016. The current promoter shareholding in the bank is 43.58%.
Kotak Mahindra Finance is the first non-banking finance company in India to convert itself in to a bank as Kotak Mahindra Bank. Today, the bank is one of the fastest growing bank and among the most admired financial institutions in India.
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