RBI fiat likely to temper interest in Kotak Bank

Shares of Kotak Mahindra Bank may come under pressure on Thursday, as the RBI said foreign institutional investors should seek its approval for buying more shares as FII holding in the bank, under the portfolio investment scheme, has reached the trigger limit. On Tuesday, Kotak Mahindra Bank said it would seek shareholders’ nod to hike the FII limit to 40 per cent from 37 per cent. In reaction to that, the bank's stock gained 2.2 per cent on Wednesday.