Kean, who replaced Sam Allardyce after Venky's took charge of the club, has seen his side fail to win any of their last seven games in all competitions and they are now just one point above the relegation zone.
The owners were forced to deny a report in a national newspaper three weeks ago that Kean was set to be dismissed, and the odds of his departure were slashed on Friday amid further rumours he was on the way out.
However, the owners remain adamant that Kean is the right man for the job.
"There is absolutely nothing to talk about," Rao told the Lancashire Telegraph. "I don't know why these stories keep arising and I don't understand it. There is nothing else to say on it."
The newspaper also quoted a source close to the owners as saying: "Again there is no truth in the rumours and it isn't helping anyone. We don't know why people are saying these things but we wish they wouldn't. It is not helping anyone."