RBI says Kotak Mahindra Bank#39;s preference issue does not meet dilution norms

RBI says Kotak Mahindra Bank#39;s preference issue does not meet dilution norms Under the norms of the licence given to the bank, the Founder and Promoter Uday Kotak was to reduce his stake in the bank to 20 percent by 2019 and 15 percent by 2020.

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