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<ul><li>The bank's shares were among the list of top losers on the Nifty on Monday, when the markets at large were buoyant.</li><li>The <keyword id="118864" type="PERSON" weightage="20" keywordseo="Market-capitalisation">market capitalisation</keyword> for the stock has falled over ₹3,400 crore since Thursday's close.</li><li>On Friday, the RBI fined the bank because its billionaire promoter Uday Kotak won't give up stake as per regulations.</li></ul> Kotak Mahindra Bank's shares were among the list of top losers on the Nifty on Monday, when the markets at large were buoyant. The market capitalisation for the stock has falled over ₹3,400 crore (nearly $0.5 billion) since Thursday's close. On Friday (May 7), the Reserve Bank of India (RBI) fined the company ₹2 crore because its billionaire promoter Uday Kotak won't give up stake as per regulations. A private bank's promoter holding has to be brought down to 40% within three years of operations, 20% within 10 years and 15% within 15 years ,according to RBI's banking licensing norms. Kotak Mahindra Bank got the licence from RBI in February 2003, and as per data from the National Stock Exchange on Monday (May 10), the promoter shareholding was nearly as high as 30%. The bank was directed to convey its commitment to reduce promoter shareholding as per the timelines stipulated, which the bank failed to comply with and a show cause notice was issued to the bank. "After considering the reply received from the bank, submissions made by the bank during personal hearing and the documents submitted by it, RBI came to the conclusion that the bank had failed to comply with the directions issued by RBI and decided to impose monetary penalty on the bank," the RBI said. In a stock exchange filing on Friday, Kotak Mahindra Bank said it is examining the order. The apex bank, however, noted that the action is based on the "deficiencies in regulatory compliance" and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank. SEE ALSO: <a href="https://www.businessinsider.in/the-top-10-richest-person-in-india/articleshow/68352802.cms" data-type="tilCustomLink" target="_blank">Meet the top 10 richest people in India</a>

Kotak Mahindra Bank has lost nearly half a billion dollars in market cap after the billionaire promoter was fined by the RBI

What is the best gift you gave someone on his/her birthday? Can’t remember! Well it’s definitely not as grand as what <keyword id="14666" type="ORGANIZATION" weightage="20" keywordseo="BJP">BJP</keyword> has given their beloved leader. <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> on his birthday has been gifted a mobile app, which lets people wish him on his birthday. Anyone can download the app in their phone and wish <keyword id="6354642" type="PERSON" weightage="20" keywordseo="Modi">Modi</keyword> on his birthday. Moreover, as a return gift the users will receive a personalized ‘Thank You’ video from the Prime Minister himself. Our tech savvy Prime Minister should be much elated to get this. 
 
The messages from top 50 prominent personalities of the country have gone live on the app today. 
 Some of the messages were accessed by the <keyword id="6474066" type="COMPANY" weightage="20" keywordseo="economic-times">Economic Times</keyword> before they go live on the mobile app. <keyword id="6357912" type="PERSON" weightage="20" keywordseo="amitabh-bachchan">Amitabh Bachchan</keyword>, Madhuri Dixit, <keyword id="31278" type="PERSON" weightage="20" keywordseo="Lata-Mangeshkar">Lata Mangeshkar</keyword> and <keyword id="6355923" type="PERSON" weightage="20" keywordseo="Aamir-Khan">Aamir Khan</keyword> have written in, so have <keyword id="3820" type="PERSON" weightage="100" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> and <keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword>, Uday Kotak, <keyword id="46425" type="PERSON" weightage="100" keywordseo="Anand-Mahindra">Anand Mahindra</keyword>, <keyword id="190960" type="PERSON" weightage="20" keywordseo="Baba-Kalyani">Baba Kalyani</keyword>, Venu Srinivasan, Chanda Kochhar, <keyword id="45634" type="PERSON" weightage="20" keywordseo="Jagdish-Bhagwati">Jagdish Bhagwati</keyword> and Kiran Mazumdar-Shaw. Shashi Tharoor, Vinod Rai, Sanjay Baru and Sri Sri Ravishankar have also sent in their greetings. Sports people like PV Sindhu, P Gopichand, Saina Nehwal and <keyword id="487" type="PERSON" weightage="20" keywordseo="Sania-Mirza">Sania Mirza</keyword> have shared their reflections of experiences with PM. 
 
Here's a look at how a entrepreneurs wished the Prime Minister on his birthday 
 
Anand G. Mahindra Over a decade ago when Narendra Modi visited Mumbai and invited businessmen to invest in <keyword id="6354766" type="COMPANY" weightage="20" keywordseo="Gujarat">Gujarat</keyword>, I remember thinking to myself: 'This man is different'. And over the ensuing years, PM Modi has indeed proved that he is a different kind of man. He is a man in a hurry to transform India. 
 
Sunil <keyword id="272096" type="COMPANY" weightage="20" keywordseo="Bharti-Mittal">Bharti Mittal</keyword> 
The last couple of years have been quite revealing. Under a visionary leader, India's potential, which was never quite in doubt, has suddenly found new meaning, and more importantly, acceptance and respect among global audiences at the highest level. The eloquence with which the PM communicated India's vision for the world...the way his charismatic statesmanship gets applauded, it makes each and every Indian proud. 
 
Cyrus P Mistry One of my first meetings I had, along with <keyword id="3660053" type="UNKNOWN" weightage="20" keywordseo="mr-ratan-tata">Mr Ratan Tata</keyword>, after assuming a new role in <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> group in 2012, was with Mr Narendra Modi. I remember going into the meeting thinking that this would entail the standard exchange of pleasantries. That day, I came out of the meeting having learnt an important lesson in leadership. 
 
Anil Ambani I recall the first time I met <keyword id="1267365" type="UNKNOWN" weightage="20" keywordseo="Narendrabhai">Narendrabhai</keyword> in the 1990s when my father <keyword id="6418409" type="PERSON" weightage="20" keywordseo="Dhirubhai-Ambani">Dhirubhai Ambani</keyword> invited him home for dinner. At the end of the conversation, Papa remarked: "<keyword id="110806" type="CITY" weightage="20" keywordseo="Lambi">Lambi</keyword> race no ghodo chhe, leader chhe, PM banse - he's a thoroughbred for the long run, a true leader, he will be prime minister. In the words of my father, Narendrabhai "dreams with his eyes open" and with <keyword id="6359315" type="PERSON" weightage="20" keywordseo="arjuna">Arjuna</keyword> like clarity of vision and purpose. 
 
Kumar Mangalam Birla 
Today, there is an air of confidence, a 'can do' feeling. Narendra Modi's has put in place the foundation for strong and sustained economic growth that benefits everyone. Not surprisingly, there has been a distinct improvement in the ease of doing business in India. Above all, Mr Modi is a man of integrity, a man of character, and that is what resonates the most. 
 
 Here’s how <keyword id="143" type="CITY" weightage="20" keywordseo="Bollywood">Bollywood</keyword> wished the Prime Minister on his birthday on the app 
 
Lata Mangeshkar 
You were opposed a lot but you have kept on walking on the path of truth. The whole world in the grip of violence but I am sure your policies will win over this violence. 
 
Aamir Khan 
I always pray that your health always remains fine and you get all your desired happiness. This year has been more memorable for you compared to your earlier years. 
 
 
Amitabh <keyword id="6354348" type="COMPANY" weightage="20" keywordseo="bachchan">Bachchan</keyword> 
I first met you at your CM residence, Gujarat to seek tax exemption for Pa. An ordinary house, an ordinary room...you said let's watch the fi lm, took me along to a theatre and saw the film. Spoke a bit about Gujarat tourism... and Surprise, within a week Gujarat tourism offi cials were at my home in Mumbai to speak to me...and within a few days work started.

​ Here's how Mukesh Ambani, Uday Kotak, Anand Mahindra and other Indian leaders wished Narendra Modi in his birthday

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Kotak Mahindra Bank has lost nearly half a billion dollars in market cap after the billionaire promoter was fined by the RBI

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Here's how Mukesh Ambani, Uday Kotak, Anand Mahindra and other Indian leaders wished Narendra Modi in his birthday

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You Searched For "uday kotak fined" and got 2 results

Kotak Mahindra Bank has lost nearly half a billion dollars in market cap after the billionaire promoter was fined by the RBI

Sriram Iyer

​ Here's how Mukesh Ambani, Uday Kotak, Anand Mahindra and other Indian leaders wished Narendra Modi in his birthday

BI India Bureau

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Here's how Mukesh Ambani, Uday Kotak, Anand Mahindra and other Indian leaders wished Narendra Modi in his birthday