Regulatory7 May 2026, 01:10 pm
RBI Approves Kotak Bank to Acquire Up to 9.99% Stake in Federal Bank
AI Summary
The Reserve Bank of India (RBI) has granted approval to Kotak Mahindra Bank Limited to acquire an aggregate holding of up to 9.99% of the paid-up share capital or voting rights of The Federal Bank Ltd. This approval is subject to compliance with the Banking Regulation Act, 1949, and other relevant regulations and guidelines. The Federal Bank received intimation from the RBI regarding this approval on May 06, 2026.
Key Highlights
- RBI approves Kotak Mahindra Bank to acquire up to 9.99% stake in Federal Bank.
- The approval is subject to compliance with regulatory norms.
- Federal Bank received the intimation from RBI on May 6, 2026.
- The acquisition is governed by the Banking Regulation Act, 1949.