Kotak Mahindra Bank’s promoter group has sold 3.24% stake in the lender to comply with Reserve Bank of India guidelines on share holding in private banks.
In a statement to the stock exchange on April 23, the bank had said it planned to raise up to $500 million in one or more tranches.
While Sundar and Parthasarathy will head Morgan Stanley's infrastructure fund in India, Vora is expected to join a local fund.
RBI has been critical of home loan products with low interest rates in the initial years, as it took the view that customers may not be able to afford repayments when they became costlier.
A banker aware of the developments said the co is also preparing business plans for wholesale banking, treasury, consumer banking and institutional banking.
In 2013-14, sale of bad loans to ARCs jumped to Rs 27,000 crore from Rs 8,000 crore in the previous financial year, and the figure is likely to double further in the current fiscal.
Bank chiefs say changes can't happen overnight and government and RBI will have to strike a balance between fiscal and monetary policy.
He said if there is no will or desire on the part of any govt which owns these banks to carry out changes listed in his committee’s report, then it is the end.
Madhu Kapur and family decided to approach the regulator after the YES Bank board and Rana Kapoor refused to take note of their demand for joint nomination.
The Bombay High Court on Friday dismissed Yes Bank's petition that it did not have the jurisdiction to hear the plea by Madhu Kapur.
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