India Today - - 50 POWER PEOPLE -

Be­cause Ko­tak Mahin­dra is the coun­try’s third largest pri­vate bank today. And be­cause he is the Modi govern­ment’s go-to per­son for fi­nan­cial ad­vice, hav­ing been ap­pointed chair­man of the be­lea­guered IL&FS in Oc­to­ber 2018

Be­cause the bank but­tressed its fi­nan­cial in­clu­sion cre­den­tials by in­clud­ing in its cus­tomer base 4.29 lakh bot­tom-of-thep­yra­mid house­holds. Most loans were given to women en­gaged in farm­ing and al­lied ac­tiv­i­ties

Be­cause it ad­vised 14 do­mes­tic and cross­bor­der trans­ac­tions with a cu­mu­la­tive value of $7.8 bil­lion (Rs 53,820 crore) in FY19. It also led the largest IPO, largest Real Es­tate Investment Trust IPO, and largest Qual­i­fied In­sti­tu­tional Place­ment, rais­ing a to­tal of Rs 32,983 crore across 14 trans­ac­tions


The RBI fined his bank Rs 2 crore in July 2019 for al­legedly not com­ply­ing with its stake di­lu­tion norms, a mat­ter pend­ing in the Bombay High Court. A di­lu­tion of his stake from 30 per cent to 20 per cent, as re­quired by the RBI, in Novem­ber 2018 was ex­pected to fetch him over $3 bil­lion (over Rs 20,700 crore)


Newspapers in English

Newspapers from India

© PressReader. All rights reserved.