This is true for Kotak Mahindra Bank, which is reaping the benefits of turning away borrowers who are now a matter of concern for most other lenders. The richly valued private lender reported a 25% growth in net profit for the March quarter as it did not have to beef up provisions like some of its peers. Kotak Mahindra Bank’s special mention accounts 2 (SMA-2) fell to ₹138 crore in the fourth quarter from ₹344 crore in the previous quarter. Kotak Mahindra Bank has said no to even the Essel Group. A key overhang on the stock is the ongoing legal battle between Kotak Mahindra Bank and the Reserve Bank of India regarding promoter shareholding rules.

Source: Mint April 30, 2019 18:00 UTC