Kotak Mahindra Bank founder and Managing Director Uday Kotak on Sunday welcomed the Reserve Bank of India's move to allow global financial institutions to acquire a majority stake in Indian banks, calling it a step that could unlock new capacity for growth in the sector.

"I welcome opening up of the banking sector to global financial institutions for majority stake. This, along with ensuring guardrails to manage conflict of interest, and providing a level playing field to players, will unleash capacity to serve India’s aspirations. Exciting times," Kotak wrote in a post on X. Advertisement

I welcome opening up of the banking sector to global financial institutions for majority stake. This, along with ensuring guardrails to manage conflict of interest, and providing a level playing field

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