RBI has given a green signal to Kotak Mahindra Bank to acquire 9.99% stake in J&K Bank. Kotak Mahindra Bank has made an application to the RBI on the same. The lender also said that the holding in J and K bank should not be more than 9.99% of the voting rights of the bank.
Acquisition of Federal and AU Small Finance
Also, Kotak Mahindra Bank has received a green flag from the RBI for the acquisition of 9.99% stake in Federal and AU small finance bank. Both the banks, the federal and AU small finance bank, have reported excellent financial performance in March 2026. J and K Bank has reported a 36.5 percent year-on-year rise with a profit of Rs 798 crore, with the annual profit of Rs 2363 crore.
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