Kotak Mahindra Bank to float infra debt fund
Saturday, April 8, 2017, 12:19 AM
Kotak Mahindra Bank (KMB) today announced plans to float an infrastructure debt fund. The Uday Kotak-led bank, which received a board approval recently to raise over Rs 5,000 crore, said it has obtained the RBI nod for floating a subsidiary to manage the fund. At present, three IDFs are in operation, promoted by ICICI Bank, IDFC and LARSEN & TOUBRO.