In response to the writ petition filed by Kotak Mahindra Bank (KMB), the Bombay High Court has refused to stay the December 31 deadline for promoter stake dilution.
In essence, the high promoter holding in Bandhan Bank is an optical illusion. It is actually widely spread out but entangled. To this extent, RBI's action seems too stringent but sets a strong precedent
RBI on Friday laid the new bank licensing norms. If an NBFC (Non-Banking Financial Banking Company) does convert into a bank, N Sivaraman, President & Wholetime Director, L&T Finance, told CNBC-TV18 that they have to very carefully phase it.