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.
