Kotak Mahindra Bank receives RBI's nod for NBFC-IDF
Rohan Takalkar / 10 Apr 2017
Kotak Mahindra Bank has received certificate of registration from RBI (Reserve Bank of India) for commencing business of its subsidiary Kotak Infrastructure Debt Fund as a non-banking financial institution infrastructure debt fund (NBFC-IDF)
Kotak Mahindra Bank has received certificate of registration from RBI (Reserve Bank of India) for commencing business of its subsidiary Kotak Infrastructure Debt Fund as a non-banking financial institution infrastructure debt fund (NBFC-IDF).
These NBFC-IDFs are sponsored by commercial banks and NBFCs, into which domestic and offshore investors can invest through units and bonds issued by IDFs. So far, three NBFC-IDFs are registered with the RBI-India Infradebt (a joint venture between ICICI Bank, Bank of Baroda, Citi Bank and LIC), L&T Infra Debt Fund and IDFC Infra Debt Fund.
Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialised subsidiaries in the areas of personal finance, investment banking, life insurance and wealth management.
Kotak Mahindra Bank is trading marginally down at Rs 871 in today’s trading session.
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