Considering the present financial situation, where RBI shares a rather cold relationship with the Indian government, Kotak Bank chief, Mr. Uday Kotak is left with no other alternative than to liquidate his shareholding to <20%. This has to be done to comply with RBIs promoter shareholding regulations.
Kotak Mahindra Bank has always maintained a congenial relationship with RBI and other closely associated officials. Hence, they are in a convenient position to utilize most of RBI devised regulations resulting in long-term benefits.
To keep up with the targeted profit margin, Kotak group has now devised a fresh strategy to majorly underrate the Yes Bank stock valuation.
Not only using RBI’s links, but Kotak Board has also utilized their nexus with RSS and GoI in every possible way to defame Yes Bank and also overpower the same. Yes Bank demands that RBI has always remained indifferent to such complaints against Kotak Bank although such actions are categorized as criminal offence under the Banking Regulation Act 1949. This is clearly indicative of Kotak’s closeness with the RBI officials.
Such actions have led to a massive 50% reduction in Yes Bank’s stock prices, thus largely losing popularity amongst the investors. Yes Bank authority has directly held Kotak Bank and RBI responsible for the same.
Yes Bank thus strives to provide justification about Kotak Bank authorities gaining benefit while Yes Bank’s customers are at a loss. Yes Bank group is now eagerly waiting for SEBI or the GoI to take up corrective measures to help Yes Bank regain its fame and position.
*Disclaimer: This is a sponsored article.