RBI has accorded its approval to Kotak Mahindra Bank Limited to acquire aggregate holding of up to 9.99% of the paid up share capital or voting rights in our Bank
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RBI has granted approval to Kotak Mahindra Bank Limited to acquire aggregate holding of up to 9.99% of the paid-up share capital or voting rights in City Union Bank Limited. The approval was conveyed via RBI letter dated May 6, 2026. The acquisition is subject to compliance with Banking Regulation Act 1949, RBI Directions 2025, FEMA 1999, SEBI regulations, and other applicable statutes. City Union Bank has informed NSE and BSE of this development under SEBI Listing Regulations. The approval comes just under the 10% threshold typically requiring separate approvals.
This indicates Kotak Mahindra Bank is building a significant stake in City Union Bank, approaching the 10% threshold which often triggers additional regulatory requirements. Shareholders should monitor for further filings as the acquisition progresses toward or past the 10% mark.