The RBI asked Kotak to lower his holding in the bank to 30 per cent by end-June
The Kotak Mahindra Bank chief also pitched for an 'exit mechanism' for the sector
The banking sector is currently awaiting entry of many differentiated-licence banks such as payments and small finance banks
Kotak said both debt recovery tribunals and debt recovery appellate tribunals are "bottlenecks" that take time
57-year-old Kotak is ranked 33rd in the Forbes list of 'Money Masters: The Most Powerful People In The Financial World'