July 4, 2015

FIPB allows Kotak Mahindra Bank to raise foreign institutional investment cap to 55%

NEW DELHI: The Foreign Investment Promotion Board (FIPB) on Friday approved Kotak Mahindra Bank's proposal to raise its foreign institutional investment (FII) cap in the bank from 49% to 55%, at the same time clearing confusion over rules for overseas investment in insurance.

The FIPB had deferred discussing Kotak's proposal on several occasions because of uncertainty over the implications of a higher FII rate for the bank's insurance venture, in which it has a 74% stake. "The approval

Read more at: http://economictimes.indiatimes.com/articleshow/47932145.cms

This step is long overdue and is very good news for the stock which has been trading in a range for past few months.

Kamalesh P Langote
Research Analyst

  • I have long positions in the stock.
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