New Delhi, Apr 7 (PTI) Kotak Mahindra Bank today said its subsidiary for providing infrastructure debt fund services has been registered with the Reserve Bank of India.
“The Reserve Bank has issued a Certificate of Registration to Kotak Infrastructure Debt Fund, subsidiary of the Bank,” the bank said in a filing.
With this, the subsidiary will commence business of non-banking financial institution as Infrastructure Debt Fund (NBFC IDF), it said.
IDFs are investment instruments sponsored by banks or NBFCs, in which domestic/offshore institutional investors, specially insurance and pension funds, can invest through units and bonds issued by them.
Stock of Kotak Mahindra Bank closed 2.18 per cent down at Rs 874.45 on BSE.
This is published unedited from the PTI feed.