FIIs can take 30% stake in Kotak Bank

The Reserve Bank of India (RBI) today allowed FIIs to buy up to 30% of equity shares or debentures of Kotak Mahindra Bank.

According to a release issued by Kotak Bank to the BSE today, the central bank approval was granted after the board had approved a hike in FII holding limit, and the resolution was passed by shareholders at the GBM.