Canadian pension fund increases stake in Kotak Mahindra Bank

Canada Pension Plan Investment Board (CPPIB) has raised its stake in Kotak Mahindra Bank nearly by a per cent to 5.77% from 4.89% earlier. CPPIB has acquired 1.6 crore shares of the bank on September 29.

Earlier this year, Reserve Bank of India (RBI) gave approval to CPPIB to acquire up to 10 per cent stake in Kotak Mahindra Bank.

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.