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Headline : Kotak Bank Promoter Firm Donated Rs 60 Crore To BJP Via Electoral Bonds

Read more from the original article on here at www.ndtvprofit.com.






Tags : #kotak #bank #promoter #firm #donated #rs #60 #crore #bjp #via #electoral #bonds


No. of Paragraph 8

Infina Finance, one of the promoter group entities of Kotak Mahindra Bank รขย€ย” currently facing RBI action, had donated electoral bonds worth Rs 60 crore to the Bharatiya Janata Party. Infina Finance, owned by the Kotak family, is listed as one of the promoter group entities of Kotak Mahindra Bank. However, it does not own any shares in the private sector lender, which has been barred by the RBI from issuing fresh credit cards.

As per the shareholding data with the BSE, as of March 2024, the promoter and promoter group entities hold a 25.89% stake in Kotak Mahindra Bank.

Uday Kotak is the promoter and single largest shareholder of Kotak Mahindra Bank, with a 25.71% stake. The remaining 0.18% stake is held by other promoter group entities.

The Mumbai-based Infina Finance donated electoral bonds worth Rs 60 crore to the BJP. The NBFC firm purchased these bonds in the denomination of Rs 1 crore in 2019, 2020 and 2021, according to the data given by the State Bank of India (SBI) to the Election Commission. The data was made public last month.

Read more from the original article on here at www.ndtvprofit.com.


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