Infina Finance, Kotak Mahindra Bank promoter group entity, donated Rs 60 crore in electoral bonds to BJP, while RBI restricts the bank due to IT risk and information security deficiencies.
Infina Finance, part of Kotak Mahindra Bank's promoter group and owned by the Kotak family, donated Rs 60 crore in electoral bonds to the BJP. The RBI has barred the bank from onboarding new customers and issuing fresh credit cards due to deficiencies in IT risk and information security governance. The promoter group entities collectively own 25.89% stake in Kotak Mahindra Bank.
April 24, 2024
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