Tag Archives: Kotak Mahindra Bank

Kotak Mahindra Bank to expand Samsung Pay platform

Reported by | Updated: October 23, 2017

Kotak Mahindra Bank and Samsung India have decided to expand the Samsung Pay platform for the bank’s Visa credit and debit card holders. The customers of the bank can now tap and pay using their Samsung smartphones at merchant outlets having card acceptance machines. This will be in addition to other digital means of transactions […]

Kotak Mahindra Bank gets 100% control in insurance subsidiary

Reported by | Updated: October 16, 2017

Kotak Mahindra Bank said it has completed the acquisition of 26% equity stake in life insurance subsidiary Kotak Mahindra Old Mutual Life Insurance from Old Mutual, UK, for Rs 1293 crore. The bank had completed an agreement in April to buy the entire stake held by Old Mutual in the insurance subsidiary. The bank now […]

Kotak Mahindra Bank does LC transaction using blockchain

Reported by | Updated: May 18, 2017

Kotak Mahindra Bank announced it has done a letter of credit transaction using blockchain. The bank said using blockchain helped the bank to reduce the transaction time from up to 30 days involved earlier to less than two hours. It said it is the first bank in the country to successfully complete the proof of […]

Kotak Mahindra Bank to double customer base using 811

Reported by | Updated: May 3, 2017

Kotak Mahindra Bank, which recently launched its 811 service, intends to double its customer base to 16 million in the next 2 years. The bank will make use of the 811 service, which is an all-digital, zero balance account, to achieve this target. Ambuj Chandana, senior executive vice president of the bank, said the app-based […]

Kotak Mahindra Bank launches ‘811’

Reported by | Updated: March 30, 2017

Kotak Mahindra Bank is launching India’s first full service digital banking ecosystem on mobile. Called ‘811’, it is expected to drive the bank’s organic growth agenda. The system has been designed around the idea of simplicity and ease of use and offers a zero balance savings account with zero charges for all digital transactions. Besides, […]

Flipkart available in KMB’s banking app

Reported by | Updated: August 12, 2016

Kotak Mahindra Bank and ecommerce major Flipkart has entered in a tie-up where in Flipkart’s mobile site would be available in KMB’s mobile banking app. According to the bank the facility gives the customer a secure in-app shopping environment. KMB has been expanding the scope of offerings on its mobile banking app, and this move […]

KMB plans to raise Rs 5000 cr

Reported by | Updated: August 4, 2016

Kotak Mahindra Bank is planning to raise Rs 5000 crore by issuing bonds for its general corporate business, according to a regulatory filing from the bank. The plan comes under the Rs 50,000 crore borrowing limit approved last year. The bank said it will issue securities in the nature of unsecured, redeemable non-convertible debentures/bonds, in […]

Kotak Bank to introduce tab banking

Reported by | Updated: June 30, 2016

Kotak Mahindra Bank will soon introduce account opening through computer tablets. This may happen in 2-3 months across the country, according to Ambuj Chandna, senior executive vice president of the bank. In a pilot, the bank will offer the facility to open accounts in less than 10 minutes for corporate salary account holders in Mumbai, […]

Kotak Mahindra Bank for tab banking

Reported by | Updated: June 8, 2016

Kotak Mahindra Bank is planning to launch end-to-end account opening process through computer tablet in a month’s time. The bank’s senior executive vice president and head of Branch Banking and Acquisition Virat Diwanji said the bank is currently in the midst of a trial-run of this upcoming initiative, under which a bank account can be […]

Uday Kotak 36th in Forbes’ powerful people in finance

Reported by | Updated: May 14, 2016

Kotak Mahindra Bank executive vice chairman and MD Uday Kotak has got a place in Forbes’ list of 40 of the most powerful people in the financial world who control the flow of trillions of dollars around the global economy. Uday Kotak, 57, who has a net worth of about $ 7.1 billion, ranked 33rd […]