Kotak Mahindra Makes Late Entry in Race for Cash
The RBI had earlier put Lakshmi Vilas Bank under the Prompt Corrective Action (PCA) framework following a sharp rise in its non-performing assets (NPAs), insufficient liquidity and negative returns on assets for two consecutive years.
Uday Kotak-led Kotak Mahindra Bank is likely to rescue the fund-starved Chennai-based Lakshmi Vilas Bank (LVB) as part of a proposed transaction under the supervision of the Reserve Bank of India (RBI).
Kotak Mahindra Bank is a late entrant in the race for L
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