The Reserve Bank of India has granted permission to foreign investors to invest in Kotak Mahindra Bank as foreign shareholding in the bank has come below RBI’s prescribed limit. The aggregate shareholdings of foreign investors through global depository receipts, foreign direct investment), foreign institutional investment and non resident Indians, among others, in Kotak Mahindra Bank has gone below the prescribed limit stipulated, RBI said. According to the existing rules, foreign direct investment limit in private sector banks is limited at 74%. As of December 205, the promoter of the bank held a 33.73% stake in the bank and the public shareholding stood at 66.27%.
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