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Kotak Mahindra Bank’s arm gets RBI’s nod to commence business of NBFC – IDF

Kotak Mahindra Bank’s arm gets RBI’s nod to commence business of NBFC – IDF

Kotak Mahindra Bank’s subsidiary Kotak Infrastructure Debt Fund has received certificate of registration from Reserve Bank of India (RBI) to commence the business of non-banking financial institution as Infrastructure Debt Fund (NBFC-IDF).

So far, three NBFC-IDFs are registered with the RBI – India Infradebt (a joint venture between ICICI Bank, Bank of Baroda, Citi Bank, and LIC), L&T Infra Debt Fund, and IDFC Infra Debt Fund.

IDFs are investment vehicles which can be sponsored by commercial banks and NBFCs in which domestic/ offshore institutional investors, specially insurance and pension funds, can invest through units and bonds issued by the IDFs.

Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.

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