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.

Disclosure: Entities controlled by the Kotak family have a significant shareholding in Business Standard.