Established in 1985, the Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received a banking license from the Reserve Bank of India (RBI). Thereafter, KMFL became India's first non-banking finance company to become a bank – Kotak Mahindra Bank Limited.
Whole is greater than the sum of its parts
The coming together of erstwhile ING Vysya Bank with Kotak Mahindra Bank will result in significant synergies, and will lead to greater focus across a much wider customer spectrum.READ MORE
The merger has enhanced the Bank's presence across India.
The Bank's business model is 'Concentrated India, Diversified Financial Services'.
The vision, stated above, is being realised through a three layered integration governance structure.
This merger has instantly expanded the network of branches and ATMs.
Flexible, agile and robust business model
Kotak is diversifying into multiple business verticals with a deep India focus as part of its continuing agenda to partner the aspirations of a rapidly transforming society. It is now more flexible, agile and focused on creating long-term value.READ MORE
Kotak has announced its plan to foray into the general insurance business.
Kotak acquired the domestic schemes of PineBridge Mutual Fund (PBI MF).
The Bank has bought 15% equity stake in Multi Commodity Exchange of India Ltd (MCX), from Financial Technologies (India) Ltd (FTIL), for a consideration of ` 459 crore.
The Bank has announced that it has agreed to invest 19.90% in Airtel M Commerce Services Limited (AMSL) for setting up a Payment Bank on AMSL, obtaining the Payment Bank license from Reserve Bank of India (RBI).
Something for everyone
The Bank has tailored offerings for a wide customer cross-section, from people having an active digital life to those looking for hassle-free banking, financial independence and personal attention.READ MORE
'Mail Money' allows customers to transfer funds simply by entering an email id and mobile number of a beneficiary and initiate a fund transfer through Kotak's secure net banking platform.
'Jifi Saver' is a social savings bank account, which can be managed via Twitter and Facebook.
'KayPay' is the world's first bank agnostic, real-time funds transfer platform, connecting over 250 million bank account holders from 29 Indian banks.
'Grand' is a unique savings bank account tailored exclusively for customers who are 55 years and above.