Categories: Banking

Kotak Mahindra Bank issues India’s first FPI licence to GIFT AIF

Kotak Mahindra Bank has issued the first-ever foreign portfolio investor (FPI) licence to the GIFT IFSC alternative investment fund (AIF) of True Beacon Global. This is the first FPI licence issued to an AIF incorporated in GIFT IFSC by any custodian bank or designated depository participant (DDP) in the country.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

AIF is an important business vertical at GIFT IFSC and offers huge benefits and a competitive edge for setting up a fund in IFSC at GIFT City. In partnership with Kotak Mahindra Bank, True Beacon launched its first AIF in GIFT-City with PricewaterhouseCoopers(PWC) as consultants.

Definitions:

  • Foreign Portfolio Investor: It means the investments made by investors in financial assets, such as stocks and bonds of entities located in another country.
  • Designated Depository Participant: It means a person who has been approved by the Securities Exchange Board of India (SEBI) under FPI Regulations, 2014, to buy, sell or otherwise deal in securities as a foreign portfolio investor.
  • Alternative Investment Fund: It is a privately pooled investment vehicle that collects funds from sophisticated investors, whether Indian or foreign, for investing it by a defined investment policy for the benefit of its investors. There are 3 Categories in AIFs (Category I AIFs, Category II AIFs, and Category III AIFs).

Important takeaways for all competitive exams:

  • Kotak Mahindra Bank is India’s first non-banking finance company which is converted into a bank;
  • Kotak Mahindra Bank Establishment: 2003 (Kotak Mahindra Finance Ltd. was established in 1985, converted to Kotak Mahindra Bank in 2003);
  • Kotak Mahindra Bank Headquarters: Mumbai, Maharashtra;
  • Kotak Mahindra Bank MD & CEO: Uday Kotak;
  • Kotak Mahindra Bank Tagline: Let’s Make Money Simple.

Find More Banking News Here

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

Recent Posts

President Murmu Confers 65 Padma Awards; Rohit Sharma, Mammootty, R Madhavan Among Recipients

In the Padma Awards 2026 ceremony Honourable President Droupadi Murmu honored the 65 distinguished personalities…

3 minutes ago

Bibha Chowdhuri: The Indian Physicist Whose Contribution to Particle Physics

When the history of modern physics is discussed, names like Einstein, Oppenheimer and Marie Curie…

13 minutes ago

T.K. Radha’s Journey: From Kerala to the World of Oppenheimer

History often remembers the names of scientists who transformed the world. But behind many scientific…

32 minutes ago

Cristiano Ronaldo Becomes First Player to Score in Six FIFA World Cups

Football legend and global icon Cristiano Ronaldo achieved historic milestone as he becomes the first…

33 minutes ago

Anna Rajam Malhotra: The Story of India’s First Woman IAS Officer

Long before women became a visible force in India’s civil services, one woman challenged the…

42 minutes ago

Current Affairs Capsule PDF (23 June 2026)

National News Tushar Mehta Reappointed as Solicitor General of India The Government of India has…

15 hours ago