The South Indian Bank Limited has received approval from the Reserve Bank of India (RBI) to allow Kotak Mahindra Bank Limited to acquire an aggregate holding of up to 9.99% of the paid-up share capital or voting rights in the Bank. This approval, intimated by the RBI on May 06, 2026, is subject to several conditions. Kotak Mahindra Bank must comply with the relevant provisions of the Banking Regulation Act, 1949, the Reserve Bank of India (Commercial Banks – Acquisition and Holding of Shares or Voting Rights) Directions, 2025 dated November 28, 2025, and other applicable statutes, regulations, and guidelines, including those from the Foreign Exchange Management Act, 1999, and the Securities and Exchange Board of India. The Bank has also hosted this information on its website, www.southindianbank.bank.in.
