Over the years, Kotak Mahindra Bank has grown significantly through strategic expansions and acquisitions, including the merger with ING Vysya Bank in 2015, which positioned it as one of the leading private sector banks in India.
The bank offers a wide range of banking products and financial services, catering to both corporate and retail customers. These include savings and current accounts, deposits, credit and debit cards, loans, insurance, and investment products. It also provides digital banking services through its mobile app and net banking platform.
Kotak Mahindra Bank has a strong presence across India with a wide network of branches and ATMs. It also has an international presence with branches and offices in locations like Dubai, London, New York, and Singapore. The bank is known for its customer-centric approach and its focus on technology-driven banking solutions.
Latest News on Kotak Mahindra Bank
Kotak Mahindra Bank Confirms the Reappointment of its Part-Time Chairman
The Reserve Bank of India (RBI) has approved the reappointment of C S Rajan as Part-Time Chairman of Kotak Mahindra Bank Limited for a further period from January 1, 2026, to October 21, 2027. This decision ensures continuity in leadership and governance as the bank continues on its strategic growth path. Mr. Rajan has been serving as Part-Time Chairman since January 1, 2024, and has been an Independent Director on the Board of the Bank since October 22, 2022.
Ashok Vaswani, Managing Director & CEO of Kotak Mahindra Bank, welcomed the decision, stating that the bank is at an exciting juncture of growth and transformation, and looks forward to Mr. Rajan’s continued leadership and strategic vision to deliver sustainable value to stakeholders. Mr. Rajan expressed his honor to continue serving as Chairman and looks forward to working closely with the Board and management to strengthen the bank’s position and deliver value to all stakeholders.
Mr. Rajan is an accomplished leader with 46 years of experience in public life. He is a Post Graduate in History and an IAS officer of the 1978 batch, who retired as the Chief Secretary of the Government of Rajasthan in 2016. He has served in leadership roles for 12 years in key infrastructure sectors, including energy, highways, water resources, and industry. He has also served on inter-disciplinary teams for review of World Bank agriculture projects and as a consultant to the World Bank.
After his retirement, Mr. Rajan served as Deputy Chairman in the Chief Minister of Rajasthan’s Advisory Council and was appointed by the Government of India on the Board of Infrastructure Leasing and Financial Services Limited (IL&FS). He has also been an Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited, a wholly-owned subsidiary of the bank. With his rich experience and expertise, Mr. Rajan’s reappointment is expected to bring stability and guidance to the bank as it navigates its next phase of growth and transformation.
C S Rajan’s reappointment as part-time Chairman of Kotak Mahindra Bank gets RBI nod
The Reserve Bank of India (RBI) has approved the reappointment of C S Rajan as Part-Time Chairman of Kotak Mahindra Bank Limited for a term starting January 1, 2026, and ending October 21, 2027. Rajan has been serving as Part-Time Chairman since January 1, 2024, and was initially appointed as an Independent Director on the Bank’s Board in October 2022.
Ashok Vaswani, Managing Director and CEO of Kotak Mahindra Bank, welcomed the RBI’s approval, stating that the bank is at an exciting juncture of growth and transformation, and that Rajan’s continued leadership and strategic vision will be valuable in delivering sustainable value to stakeholders. Rajan expressed gratitude for the continued trust placed in him and looks forward to working closely with the Board and management to strengthen the Bank’s position and deliver value to all stakeholders.
Rajan’s career spans over four decades in public service and corporate leadership. He is an accomplished leader with 46 years of experience in public life, having retired as the Chief Secretary of the Government of Rajasthan in 2016. During his career, he served in leadership roles for 12 years in key infrastructure sectors and 14 years in agriculture and rural development.
After retirement, Rajan continued to play key roles in governance and corporate restructuring, serving as Deputy Chairman of the Chief Minister of Rajasthan’s Advisory Council and later joining the Government of India-appointed Board of Infrastructure Leasing and Financial Services Limited (IL&FS). He also serves as an Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited, a wholly-owned subsidiary of the Bank.
Rajan’s reappointment as Part-Time Chairman is expected to bring stability and continuity to the Bank’s leadership, allowing it to navigate its next phase of growth and transformation. With his extensive experience in public service and corporate leadership, Rajan is well-equipped to guide the Bank in delivering sustainable value to its stakeholders. The Bank’s management and Board look forward to his continued leadership and strategic vision, which will be crucial in shaping the Bank’s future growth and success.
The Reserve Bank of India has given its nod to reappoint C S Rajan as the part-time Chairman of Kotak Mahindra Bank.
The Reserve Bank of India (RBI) has approved the reappointment of C S Rajan as Part-Time Chairman of Kotak Mahindra Bank Limited for another term, starting from January 1, 2026, until October 21, 2027. Rajan has been serving as Part-Time Chairman since January 1, 2024, and was initially appointed as an Independent Director on the Bank’s Board in October 2022. The announcement was made by Kotak Mahindra Bank in an official press release, marking a continuation of Rajan’s leadership at the private lender.
Ashok Vaswani, Managing Director and CEO of Kotak Mahindra Bank, expressed his appreciation for Rajan’s continued leadership, stating that the bank is at an exciting juncture of growth and transformation. Vaswani added that Rajan’s strategic vision will help the bank deliver sustainable value to its stakeholders. Rajan, in turn, expressed his gratitude for the continued trust placed in him and looks forward to working closely with the Board and management to further strengthen the bank’s position.
Rajan’s reappointment extends a career that spans over four decades in public service and corporate leadership. He is a postgraduate in History and has 46 years of experience in public life, including 12 years in key infrastructure sectors and 14 years in agriculture and rural development. After retiring as the Chief Secretary of the Government of Rajasthan in 2016, Rajan continued to play key roles in governance and corporate restructuring, including serving as Deputy Chairman of the Chief Minister of Rajasthan’s Advisory Council and holding senior positions at Infrastructure Leasing and Financial Services Limited (IL&FS).
In addition to his role at Kotak Mahindra Bank, Rajan also serves as an Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited, a wholly-owned subsidiary of the bank. With his extensive experience and leadership skills, Rajan is well-positioned to guide Kotak Mahindra Bank through its next phase of growth and transformation. The bank’s management and stakeholders are likely to benefit from his continued leadership and strategic vision, as the bank navigates the evolving landscape of the Indian banking industry.
Stock Market Updates of Kotak Mahindra Bank
Recent Updates
Kotak Bank finalizes assessment of IDBI acquisition.
Kotak Mahindra Bank has reportedly completed its due diligence process to acquire the government’s stake in IDBI Bank, making it a strong contender in the race to take over the bank. The due diligence process involved reviewing confidential information such as borrower data, exposure, and loan provisions to assess the bank’s financial health. With Kotak Mahindra Bank’s entry, the competition becomes more interesting, as two global players, Oaktree Capital Management and Fairfax Financial, have already completed their due diligence.
Fairfax Financial already owns a 40% stake in CSB Bank, while Emirates NBD may no longer be in the race after its recent acquisition of RBL Bank. Kotak Mahindra Bank could become the front runner in the race for IDBI Bank, as it is the only domestic contender to buy the government’s stake. The government and Life Insurance Corporation (LIC) hold 94% in the bank, and the transaction could involve acquiring a majority stake of up to 60.72%.
The government aims to finalize the winning bidder by the end of FY26, with the deal potentially valuing IDBI Bank around $8-10 billion. The bank is in advanced discussions with government-appointed advisers, and final financial bids are expected to be invited in the coming quarter. The government first announced its intent to divest IDBI Bank in February 2021, and the formal process began in October 2022, when the Department of Investment and Public Asset Management (DIPAM) invited expressions of interest (EoIs) for the bank’s strategic sale.
By January 2023, DIPAM confirmed it had received multiple EoIs, and around September, four shortlisted bidders who cleared the Reserve Bank of India’s ‘fit and proper’ assessment were granted access to the data room, initiating the buyer due diligence phase. Kotak Mahindra Bank’s spokesperson declined to comment on the development, stating that they would revert with an update if any. The acquisition of IDBI Bank is expected to be a significant deal, and the government is keen to finalize the process by the end of FY26.
Kotak Mahindra Bank’s BizLabs 2.0 infuses entrepreneurial energy into India’s Tier 2 cities
Kotak Mahindra Bank is launching the second season of its accelerator-style CSR initiative, Kotak BizLabs, which aims to support entrepreneurs solving India’s toughest challenges. The program is focused on providing a platform for ecosystem development, rather than just chasing valuations. In its first season, BizLabs brought together over 1,500 startups, accelerated 55, and provided over Rs 5 crore in funding and grants.
The second season will expand to 13 cities, partnering with ecosystem powerhouses like IIT Delhi’s FITT, IIMA Ventures, NSRCEL-IIM Bangalore, and T-Hub. The program will focus on sectors like applied AI for MSME digitization, inclusive fintech, climate technology, resource efficiency, agritech tools, and health access enablers. According to Kedarswamy Ravangave, EVP – Marketing, Kotak Mahindra Bank, the goal is to provide distribution and credibility to founders, rather than just funds.
The bank is also launching a four-part docuseries, Hausla Empowered, which captures the journeys of entrepreneurs solving India’s toughest challenges. The series will stream on Amazon MX Player, which has 1.6 billion downloads and reaches Tier II and Tier III audiences. Ravangave believes that this partnership will help democratize startup access and inspire entrepreneurs in smaller cities.
Kotak Mahindra Bank’s approach to CSR is refreshingly contrarian, focusing on letting real stories shine rather than relying on celebrity endorsements. The bank believes that its brand purpose is about letting the action of the brand speak louder than campaigns. The goal of BizLabs is to create a cultural movement, not just a program, and to support founders who are audacious enough to build something new without waiting for permission.
The initiative is part of a larger shift in India, where entrepreneurship has become the new cultural currency. Ravangave believes that India is redefining who it is, and that people are no longer looking for permission, but for access. The goal of BizLabs is to nurture this shift and provide support to founders who are solving real problems. Ultimately, the program aims to create a ripple effect, inspiring a cluster of entrepreneurs in smaller cities and creating a cultural movement that goes beyond just a CSR initiative.
Kotak Bank Allocates Rs 9 Crore Grant to Support Startups in Tier 2 and 3 Cities: Rediff Money News
Kotak Mahindra Bank has announced a grant of Rs 9 crore to be awarded to 60 startups based in smaller cities as part of its corporate social responsibility initiative, the Kotak Bizlabs Accelerator Programme. This is the second edition of the program, which provided a grant of Rs 5 crore to 32 startups in its first season. The grant aims to support and promote entrepreneurship in smaller cities, and the selected startups will receive funding to help them grow and develop their businesses.
In other news, Mahavir Lunawat, the founder-chairman of Pantomath Capital Advisors, has been re-elected as the chairman of the Association of Investment Bankers of India (AIBI) for a two-year term. Lunawat will be joined by Abhijit Vaidya of Kotak Investment Banking and Lakha Nair of Axis Capital, who will serve as vice-chairpersons. The AIBI is a professional organization that represents the interests of investment bankers in India, and Lunawat’s re-election is seen as a vote of confidence in his leadership.
Meanwhile, Bollywood actor Amitabh Bachchan has purchased three plots of land near the coastal town of Alibag in Maharashtra for a total of over Rs 6.6 crore. The plots, which are part of the HOABL Landbuild project, cumulatively measure 9,500 sq ft. The purchase was reported by data analytics firm CRE Matrix, which tracks real estate transactions. Bachchan’s investment in the plots is seen as a sign of the growing demand for luxury properties in the Alibag region, which is known for its scenic beaches and tranquil atmosphere.
These announcements highlight the ongoing activities in the business and entertainment sectors in India. Kotak Mahindra Bank’s grant to startups demonstrates its commitment to promoting entrepreneurship and supporting small businesses, while Mahavir Lunawat’s re-election as AIBI chairman reflects the organization’s confidence in his leadership. Amitabh Bachchan’s purchase of plots in Alibag, on the other hand, underscores the growing interest in luxury properties in the region. Overall, these developments suggest a positive outlook for the Indian economy and a growing appetite for investment and entrepreneurship.
HDFC Bank Sees 9% Surge in Loans, While Kotak, IDBI, and UCO Banks Deliver Positive Q2 Results in Latest Business Updates
The Indian banking sector has reported strong loan and deposit growth in the July-September 2025 quarter, with both private and public sector lenders showing healthy numbers. HDFC Bank, Kotak Mahindra Bank, IDBI Bank, and UCO Bank all posted double-digit increases in their loan books, reflecting continued momentum in credit demand.
HDFC Bank reported a 9% year-on-year growth in loans, which stood at Rs 27.9 lakh crore as of September 30, 2025. The bank’s total advances under management rose to Rs 28.6 lakh crore, up 8.9% from Rs 26.3 lakh crore a year earlier. Total deposits increased 15.1% to Rs 27.1 lakh crore, compared with Rs 23.5 lakh crore in the year-ago period.
Kotak Mahindra Bank posted a 15.8% rise in advances to Rs 4.62 lakh crore during Q2 FY26, compared with Rs 3.99 lakh crore in the same quarter of the previous fiscal. The bank’s total deposits grew 14.6% to Rs 5.28 lakh crore, up from Rs 4.61 lakh crore a year earlier.
IDBI Bank reported a 15% year-on-year growth in its credit book, with net advances rising to Rs 2.3 lakh crore as of September 30, 2025, compared with Rs 2 lakh crore last year. Total deposits stood at Rs 3.03 lakh crore, up 9% from Rs 2.77 lakh crore a year ago.
UCO Bank reported a 13.29% year-on-year rise in total business to ₹5.37 lakh crore in the September 2025 quarter. Total advances grew 16.67% to Rs 2.31 lakh crore, from Rs 1.98 lakh crore in the same period last year. Deposits increased 10.87% year-on-year to Rs 3.06 lakh crore, compared with Rs 2.76 lakh crore last year.
The latest updates from major lenders indicate that credit demand across retail, corporate, and MSME segments remains strong in FY26 so far. Their Q2 results, including revenue, net profit, and NPAs, will be released this month. The strong growth in both loans and deposits underscores continued traction across various segments, suggesting a positive outlook for the banking sector.
The growth in loans and deposits is a positive sign for the economy, as it indicates that businesses and individuals are taking on more credit, which can lead to increased economic activity. The banks’ ability to grow their loan books and deposits also suggests that they are able to effectively manage their risk and provide credit to those who need it.
Overall, the Q2 business updates from HDFC Bank, Kotak Mahindra Bank, IDBI Bank, and UCO Bank suggest that the banking sector is on a strong footing, with healthy growth in loans and deposits. This is a positive sign for the economy and suggests that the sector will continue to play a crucial role in supporting economic growth.
The performance of these banks is likely to have a positive impact on the overall economy, as they are major players in the financial sector. The growth in loans and deposits is expected to continue, driven by strong credit demand across various segments. The banks’ focus on managing risk and providing credit to those who need it is also expected to continue, which will help to support economic growth.
In conclusion, the Q2 business updates from major lenders suggest that the banking sector is on a strong footing, with healthy growth in loans and deposits. This is a positive sign for the economy and suggests that the sector will continue to play a crucial role in supporting economic growth. The strong growth in loans and deposits is expected to continue, driven by strong credit demand across various segments.
Kotak811 surpasses SBI Yono, securing the 3rd spot globally in terms of banking app downloads for the first half of 2025, according to a report by Firstpost.
Kotak811, a digital banking brand launched by Kotak Mahindra Bank in 2017, has achieved significant success, ranking third globally in banking app downloads in the first half of 2025, according to Sensor Tower. With over 16 million downloads, Kotak811 has experienced a 250% year-on-year surge, the fastest growth for any banking app globally during the period. This growth is notable, given the RBI’s restrictions that barred the bank from onboarding new digital customers until February 12.
Kotak811’s success can be attributed to its low-cost airline-style model, offering zero-balance accounts with optional paid add-ons like debit cards and cheque books. The platform serves 2.6 crore fully KYC-compliant savings account holders, who enjoy access to all branch-level facilities. Kotak811 functions as a digital financial marketplace, offering savings, UPI and IMPS payments, mutual funds, insurance, and credit cards within the Kotak ecosystem.
While SBI’s Yono app leads in overall install base and usage, backed by its 50 crore-strong customer base, Kotak811 has broadened its reach to upper-middle-class and affluent customers. The bank offers 811 Super for the mass-affluent segment, which already serves over 10 lakh customers. Kotak811’s success highlights the contrast with fintech models, as only banks like Kotak can deliver end-to-end digital banking under a regulated framework.
The global digital banking surge, as noted by Sensor Tower, reflects a shift toward mobile-first banking in markets where many still lack access to traditional branches. Neobanking apps are helping expand financial inclusion in countries like Brazil, India, Mexico, and Colombia by offering low-cost, branchless services. Consumer banking apps surpassed 2 billion global downloads in the 12 months to June 2025, a 5.1% annual rise, with roughly 500 million downloads each quarter. Mobile apps are now the go-to platform for financial services, and banking apps are leading the shift, setting the pace for digital transformation across the industry.
In the Indian market, despite Kotak811’s success, consumers still rely heavily on payment apps like PhonePe, Google Pay, and Paytm for daily transactions. However, Kotak811’s regulated framework and bank-manufactured products offer credibility, regulatory stability, and scalability, making it a full-fledged financial marketplace. As the digital banking landscape continues to evolve, Kotak811’s success demonstrates the potential for traditional banks to adapt and thrive in a mobile-first world.
Kotak Mahindra Bank provides corporate social responsibility support to Anganwadi centers
United Way Bengaluru (UWBe) has launched an initiative to refurbish 30 Anganwadi centres in the Dharwad and Gadag districts of Karnataka. The project, dubbed the ‘Model Anganwadi Project’, is being undertaken with the support of Kotak Mahindra Bank’s Corporate Social Responsibility (CSR) programme and in collaboration with the Government of Karnataka. The primary objective of this initiative is to promote holistic early childhood development for children between the ages of 0-6 years.
The refurbishment of these Anganwadi centres aims to create child-friendly spaces that are equipped with safe learning materials, improved sanitation facilities, and access to nutritious food. This will not only benefit the children but also pregnant and lactating mothers. The project covers 30 villages across the two districts, and it is estimated that approximately 30,000 people will benefit from this initiative.
Anganwadi centres play a crucial role in providing essential services such as healthcare, nutrition, and education to young children and their mothers. However, many of these centres often lack the necessary infrastructure and resources to provide quality services. The Model Anganwadi Project seeks to address this gap by creating model centres that can serve as benchmarks for other Anganwadi centres in the region.
The collaboration between United Way Bengaluru, Kotak Mahindra Bank, and the Government of Karnataka demonstrates a commitment to improving the lives of vulnerable populations, particularly young children and their mothers. By providing access to safe, nutritious, and educational environments, this project has the potential to make a significant impact on the health, wellbeing, and future prospects of the children and communities involved.
The project’s focus on early childhood development is also significant, as this period is critical for a child’s cognitive, social, and emotional growth. By investing in the development of young children, the project aims to break the cycle of poverty and inequality, and provide a foundation for future success. Overall, the Model Anganwadi Project is a valuable initiative that has the potential to make a lasting impact on the lives of thousands of people in Karnataka.
Managing tech debt is an ongoing challenge, but with the right strategy, it can be effectively mitigated, according to a senior executive at Kotak Mahindra Bank.
Kotak Mahindra Bank has been undergoing a digital transformation over the past two years, encompassing its various businesses, including commercial, wholesale, and retail banking. This journey was accelerated by the Reserve Bank of India’s (RBI) restrictions imposed in April 2024 due to issues with the bank’s digital platforms. The restrictions were lifted in February after Kotak rectified its IT infrastructure deficiencies. The bank spent over ₹1,700 crore on technology in the year ended March 31, a 30% increase from the previous year, accounting for around 10% of its operating expenses.
According to Nilesh Chaudhari, Head of Technology at Kotak, the RBI’s restrictions provided an opportunity for the bank to clear its legacy tech debt. The bank has been focusing on raising its standards, and its technology investment is in line with industry benchmarks. Chaudhari noted that tech debt will always exist due to trade-offs between speed, cost, and time-to-market, but the key is to keep it under control. To achieve this, the bank has instituted the IT Risk and Information Security Committee (IRISE) and an Architecture Board to ensure that new solutions are scalable and sustainable.
A crucial part of Kotak’s transformation is its proprietary AI platform, Kotak AI. The platform uses 12 large language models (LLMs) from multiple providers and allows for the creation of specialized AI “skills” that can be orchestrated by agents to complete end-to-end tasks. Kotak AI is already being used for credit analysis, customer-facing staff, and coding assistance. The platform has been largely built in-house, allowing the bank to iterate and experiment rapidly while controlling costs.
Kotak’s technology team consists of over 2,000 full-time employees, supported by another 2,000 through partners. The team has been expanding across locations, including Gurgaon, Bengaluru, and Hyderabad, with the bank setting up hubs in these cities to tap into engineering talent. The bank has invested heavily in hiring core engineering talent, focusing on building in-house capabilities that provide long-term differentiation. Kotak’s broader strategy is to build reusable building blocks for faster innovation, covering areas like identity and access management, customer payment instruction systems, and its cloud-based Data Exchange (DEX) platform.
On August 25, 2025, the NIFTY BANK Index saw notable movement, with Kotak Mahindra Bank’s stock price dipping below its 200-day moving average.
The NIFTY BANK index has closed at 55,139.30, marking a slight decline of 0.02 percent from its previous value. This decline translates to a loss of 10.10 points. The index’s performance during the post-market session was observed to have reached a high of 55,306.00 and a low of 55,048.40. The opening value of the index was 55,147.75.
The NIFTY BANK index’s 52-week high stands at 57,628.40, while its 52-week low is 47,702.90. These values provide a broader perspective on the index’s performance over the past year, showcasing its range of fluctuations.
The slight decline of 0.02 percent experienced by the NIFTY BANK index today may indicate a cautious stance among investors. The index’s movement during the post-market session, with a high of 55,306.00 and a low of 55,048.40, suggests that there was some volatility, but it remained within a relatively narrow range.
The opening value of 55,147.75 set the tone for the day’s trading, and the index closed at 55,139.30, slightly below its opening value. This minor decrease may not be significant enough to raise major concerns but could be an indication of a correction or a pause in the index’s upward momentum.
In the context of the index’s 52-week performance, the current closing value of 55,139.30 is closer to its 52-week high of 57,628.40 than its 52-week low of 47,702.90. This suggests that the NIFTY BANK index has been performing relatively well over the past year, with some periods of growth and stability.
Overall, the NIFTY BANK index’s slight decline today, coupled with its range of movement during the post-market session, may be seen as a normal market fluctuation. Investors and market observers will likely be watching the index’s future movements closely to determine if this decline is a short-term correction or a sign of a more significant trend. As of now, the index remains above its 52-week low, indicating a level of resilience in the banking sector.
TV Naarayan dia nametra-pialana ho tompony mpihiboka ny IDFC First Bank
Andriamatoa TV Narayan, Lehiben’ny Marketing an’ny Banky Voalohany IDFC, nametra-pialana tamin’ny banky. Ny anton’ny fametraham-pialana dia noho ny fahafahana eo amin’ny indostrian’ny fiaramanidina. Narayan neken’ny fact that faly izy noho ny fahafaha-manao goavana ao amin’ny IDFC FIRST ary tafiditra ao anatin’ny fahombiazan’ny fananganana ity Banky ity.
Narayan nanomboka ny asany tamin’ny Kotak Securities ho mpitantana mpanampy amin’ny varotra / marika. Taorian’izay, nifindra tany amin’ny TimesOfMoney izy ho mpitantana ny vokatra amin’ny serivisy NRI. Niasa ho mpitantana ambony momba ny varotra vokatra ao amin’ny Motilal Oswal Securities ihany koa izy. Avy eo, niditra tao amin’ny TimesOfMoney ho mpitantana ambony amin’ny marketing dizitaly.
Narayan niditra tao amin’ny PayPal ho lehiben’ny varotra mpivarotra ary avy eo dia nikarakara ny hetsika ara-barotra ho lohany. Avy eo izy dia lasa lohan’ny fividianana mpivarotra ho an’ny tsena iraisam-pirenena. Ny 22 aogositra 2025 no andro niasany farany any IDFC FIRST.
Ny banky neken’ny fialan’Andriamatoa TV Narayan. Narayan naneho ny faly ny amin’ny asa nataony ao amin’ny IDFC FIRST ary ny fahafaha-manao goavana ao anatin’ny banky. Ny fialan’Andriamatoa TV Narayan dia manamarina ny fahafahana eo amin’ny indostrian’ny fiaramanidina.
S&P Global has upgraded the ratings of 10 major financial institutions, including State Bank of India, ICICI, and HDFC Bank.
S&P Global, a leading credit rating agency, has lifted the ratings of 10 banks and finance firms in India, citing improved economic conditions and a decline in bad loans. The upgrade reflects the agency’s optimism about the Indian banking sector, which has been undergoing significant reforms and consolidation in recent years.
The banks and finance firms that have received rating upgrades include:
1. State Bank of India (SBI)
2. ICICI Bank
3. HDFC Bank
4. Axis Bank
5. Kotak Mahindra Bank
6. IndusInd Bank
7. Yes Bank
8. IDBI Bank
9. Tata Capital
10. L&T Finance Holdings
The ratings upgrade is a significant development for the Indian banking sector, which has been facing challenges such as high levels of non-performing assets (NPAs) and a slowdown in economic growth. However, with the implementation of the Insolvency and Bankruptcy Code (IBC) and other reforms, the sector has started to show signs of improvement.
S&P Global has stated that the rating upgrades are based on the banks’ improved asset quality, stronger capitalization, and better profitability. The agency has also noted that the Indian government’s efforts to recapitalize public sector banks and address the NPA issue have contributed to the upgrade.
The rating upgrades are expected to have a positive impact on the banks’ and finance firms’ ability to raise capital and borrow funds at lower costs. This, in turn, is likely to boost their lending activities and support economic growth in India.
The upgrade also reflects the agency’s confidence in the Indian economy, which is expected to recover from the pandemic-induced slowdown. The Indian government has been taking several measures to boost economic growth, including infrastructure spending, tax cuts, and monetary policy easing.
Overall, the rating upgrades by S&P Global are a positive development for the Indian banking sector and reflect the agency’s optimism about the sector’s prospects. The upgrades are expected to have a positive impact on the banks’ and finance firms’ operations and are likely to support economic growth in India.
Mumbai Police Arrest Bank Employee for Alleged Rape and Extortion of Former Partner, Demanding Rs 1 Crore
An employee of RBL Bank, Dolly Kotak, has been arrested in Mumbai for allegedly trying to extort Rs 1 crore from her former partner by falsely accusing him of rape. The victim, an IT professional, claims that Kotak illegally accessed his financial data and got him jailed, forcing him to quit his job. The matter came to light when Kotak demanded Rs 1 crore from the victim’s sister in court in exchange for a no-objection certificate for his bail. She warned of dire consequences if her demands were not met.
Kotak allegedly accessed the victim’s personal and financial data with the help of bank employees. She removed the mobile number associated with his account and added her own, allowing her to receive his online banking details, GPS location history, and private photos. In May 2024, the victim received a threatening message from Kotak’s number, which read, “You will never win and will die in pain. Pay money or die in jail…” This harassment extended to his professional life, as Kotak emailed his employer’s human resources department, resulting in him being forced to resign under pressure.
The victim sought relief from the Borivali magistrate, who ordered the Charkop police to register an FIR under Section 175(3) of the Indian Civil Security Code. The police registered a case against Kotak and two others, Pramila Vas, an HDFC Bank employee, and Sagar Kotak. The victim claims that despite repeated refusals, Kotak continued to pressure him through frequent phone calls, eventually setting up a meeting at her lawyer’s office where she reiterated her extortion demand.
The case highlights the issue of data privacy and the misuse of power by bank employees. The victim’s experience is a disturbing example of how someone’s personal and financial data can be accessed and used to extort money. The arrest of Kotak and the registration of an FIR against her and others involved is a step towards justice for the victim. However, it also raises questions about the security measures in place at banks to prevent such misuse of data and the need for stricter laws to protect individuals from such harassment. The case is a reminder of the importance of protecting personal and financial data and the need for banks to ensure that their employees do not misuse their power.
Kotak Bank Chairman predicts India’s economic growth will decelerate to 6.2% by the fiscal year 2026.
Kotak Mahindra Bank’s Chairman, C S Rajan, has expressed caution about India’s economic growth prospects for the current fiscal year, citing the recent imposition of 25% tariffs on Indian exports by the US as a significant cause for uncertainty. As a result, the bank expects India’s GDP growth to slow down to 6.2% in FY26. This forecast is more pessimistic than the World Bank’s projection of 6.3% growth, but closer to the government’s estimate of 6.3-6.8% growth for 2025-26.
Despite the slowdown, India is still expected to be the world’s fastest-growing major economy, with the government citing robust macroeconomic fundamentals and proactive policy measures as key factors supporting growth. In the previous financial year, nominal GDP grew by 9.9%, while real GDP increased by 6.5%, indicating sustained economic momentum.
However, recent high-frequency indicators suggest a softening of economic activity, which is also reflected in slowing credit growth. The Reserve Bank of India (RBI) has responded to this slowdown by cutting the policy repo rate by 100 basis points to 5.5% and providing aggressive liquidity measures to stimulate growth.
On a positive note, inflation trends have turned benign in the current financial year, with recent readings dropping to as low as 2.1%. This has created a favorable environment for the RBI to adopt a more accommodative monetary policy stance. Overall, while there are challenges ahead, India’s economy is expected to remain resilient, driven by its strong fundamentals and supportive policy measures.
The imposition of tariffs by the US has introduced a new layer of uncertainty into India’s economic outlook, and the government will need to navigate this challenge carefully to ensure that growth momentum is maintained. Nevertheless, with the right policy responses, India is well-positioned to continue its growth trajectory and achieve its development goals. The government’s focus on domestic revenue mobilization and increasing resilience against future shocks will be crucial in this regard.
Jay Kotak backs his father’s vision for the next generation, albeit with some reservations.
Jay Kotak, a next-generation leader in a large business family, is challenging the common perception that younger family members are not interested in carrying on the family business. In fact, he believes that many next-gen leaders remain deeply involved in operations, driven by an entrepreneurial instinct to build and scale their family’s companies. This mindset is particularly strong in family-owned enterprises, where the desire to do business is “in our Indian blood.”
Jay is rewriting the narrative around legacy, neither disowning his inheritance nor relying solely on it. Instead, he defines himself as a professional, committed to his role and the organization. He enjoys what he does and sees no reason to leave, as long as he is performing well and the company is thriving. However, he is clear-eyed about the conditions that sustain commitment, recognizing that his own performance, the performance of his business, and various other factors will determine his long-term involvement.
Jay’s experience has taught him the importance of staying the course and putting in the time and effort required to build a successful business. He believes that there is no shortcut to success and that valuations can often run ahead of reality. Building a profitable franchise that delights customers and maintains financial health takes time, effort, and perseverance.
Jay’s perspective suggests that not every inheritor is lazy or uninterested in the family business. Rather, many may simply not have been challenged enough to keep the family business thriving. By staying committed and focused, next-gen leaders like Jay can help their family businesses continue to grow and succeed. In fact, Jay’s approach to his role is a testament to the fact that many next-gen leaders are eager to make their mark and take their family businesses to the next level.
Ultimately, Jay’s story highlights the importance of hard work, dedication, and a willingness to learn and adapt in order to succeed in business. By staying true to his values and committed to his role, Jay is helping to redefine the narrative around legacy and next-gen leadership, and proving that with the right mindset and approach, anything is possible.
Kotak Mahindra Updates Fees for Credit Cardholders: A Detailed Guide
Kotak Mahindra Bank has revised its credit card transaction fees, which may result in higher costs for card users. The changes include an increase in the international transaction fee, EMI conversion processing fee, and balance transfer charges. The international transaction fee has been revised from 3.5% to 4%, while the EMI conversion processing fee is now INR 199 + GST. Balance transfers will be charged a processing fee of 1.5% or INR 199, whichever is higher.
The cash advance charges remain the same, but the bank is enforcing stricter interest charges from the first day. These revisions will come into effect from July 1, 2025, and apply to almost all Kotak Mahindra credit cards. The changes reflect a 5-20% increase in charges across categories, bringing Kotak in line with the fees increase announced by other major banks.
The affected transaction categories include domestic transactions, international transactions, EMI conversions, and other charges. Domestic transactions will have cash advance fees of 2.5% or INR 500, whichever is higher, while fuel surcharge of 1% remains applicable. International transactions will have a forex markup fee of 4%, and Dynamic Currency Conversion (DCC) is discouraged due to double charging risks.
To minimize charges, users can link their credit card to digital wallets, enable auto-debit, and limit international usage. They can also use EMI conversion for high-ticket purchases, convert accumulated reward points to vouchers, and be aware of hidden costs. It is essential for card users to stay informed about the updated terms and conditions and explore other credit cards that offer better alternative solutions if the revised charges do not align with their usage.
The comparison with other banks shows that Kotak Mahindra’s revised fees are more aggressive in some categories, such as forex markup fee, while being standard in others, like cash advance fee and card replacement fee. By being aware of the changes and taking smart financial decisions, users can minimize the impact of the revised fees and get the most value out of their credit card.
In conclusion, the revised transaction fees by Kotak Mahindra Bank may seem minor at first but can significantly impact the value card users get over time. Staying informed and making smart financial decisions can help users minimize charges and get the most out of their credit card. It is crucial for card users to regularly review their monthly statements, track their transaction patterns, and stay updated on official communications from the bank to avoid fee traps and related disputes.
HDFC Life celebrates a milestone 25 years by distributing a historic bonus of ₹4,102 crore to its policyholders
HDFC Life Insurance Company has announced a record-breaking bonus of ₹4,102 crore for its participating policyholders, marking the largest-ever bonus declaration in the company’s 25-year history. This bonus will benefit over 21.90 lakh policyholders, with ₹3,232 crore being disbursed in the current financial year as part of survival or maturity payouts. The remaining amount will accrue as policy benefits, payable in subsequent years.
The company’s annual bonus has approximately doubled every four years, reflecting consistent growth in its with-profits fund performance. Since its inception, HDFC Life has declared a cumulative bonus amount exceeding ₹22,500 crore across eligible participating policies. Eshwari Murugan, Appointed Actuary at HDFC Life, stated that this declaration is the company’s highest bonus yet and considers policy bonuses as a loyalty reward for long-term policyholders.
This announcement follows similar declarations from other insurers, including Axis Max Life Insurance, which declared a participating bonus of ₹2,135 crore for FY2024-25, benefiting over 21 lakh policyholders. Tata AIA Life Insurance also announced a bonus of ₹1,842 crore for FY24, benefiting 17.22 lakh policyholders, while Kotak Mahindra Life Insurance declared a bonus of ₹1,178 crore for FY25.
The bonus declaration by HDFC Life is a significant milestone, reflecting the company’s commitment to rewarding its policyholders for their loyalty and trust. The company’s consistent growth and performance have enabled it to declare increasingly larger bonuses over the years, demonstrating its ability to deliver value to its customers. With this declaration, HDFC Life reinforces its position as a leading life insurance provider in India, dedicated to providing long-term financial security and benefits to its policyholders.
Kotak Mahindra Announces Key Changes in its Senior Leadership Team
Kotak Mahindra Bank, a private sector lender, has announced changes in its senior management personnel. Mr. Paul Parambi, the current Group Chief Risk Officer (GCRO), will be retiring on June 30, 2025, and will cease to be a senior management personnel of the bank. However, he will continue to serve as Group President- Risk until his retirement.
To fill the vacancy, the bank’s Board of Directors has appointed Ms. Srishti Sethi as the new GCRO and a Senior Management Personnel (SMP) of the bank, effective from June 12, 2025, for a period of five years. Ms. Sethi brings over! 30 years of experience in enterprise and credit risk, banking and wealth management, corporate debt, collections, and operational excellence. She has held leadership roles at Hero Fincorp, IDFC First Bank, and GE Capital, and is known for her strategic perspective, deep domain expertise, and ability to lead transformation with precision and purpose.
Ms. Sethi is a graduate in Mathematical Statistics from Lady Shri Ram College and holds a PGDBM from IMS Ghaziabad. She is also a Certified Information Systems Auditor (CISA) and holds a CRISC certification. Her appointment is expected to bring new insights and expertise to the bank’s risk management function.
The change in leadership is a significant development for Kotak Mahindra Bank, and the appointment of Ms. Sethi is seen as a positive move to strengthen the bank’s risk management capabilities. The bank’s Board of Directors has expressed confidence in Ms. Sethi’s ability to lead the risk management function and contribute to the bank’s growth and success.
The announcement of Ms. Sethi’s appointment is part of the bank’s efforts to ensure a smooth transition and maintain continuity in its senior management team. The bank’s senior management personnel play a crucial role in shaping its strategy and direction, and the appointment of Ms. Sethi is expected to have a positive impact on the bank’s operations and performance. Overall, the change in leadership is a significant development for Kotak Mahindra Bank, and the appointment of Ms. Sethi is seen as a positive move to strengthen the bank’s risk management capabilities and drive its future growth and success.
Kotak811 Launches New Initiative to Honour the Emerging Wave of Digitally-Savvy Indians Redefining the Future of Banking
Kotak Mahindra Bank has launched a new campaign to promote its digital banking platform, Kotak811, with the goal of providing a seamless and intuitive banking experience to India’s digital-first generation. The platform is designed to be a complete bank in your pocket, offering a range of services including instant onboarding, UPI payments, smart investment tools, and cashbacks. The campaign, featuring Ranveer Singh, aims to showcase the app’s frictionless user experience and ability to meet every financial need with just a few taps.
According to Rohit Bhasin, CMO and Head of Propositions at Kotak Mahindra Bank, the campaign’s core message “Banking so smooth, it’s Makkhan” reflects the app’s effortless and fast user experience. Manish Agarwal, Business Head of Kotak811, noted that India is on the brink of a digital banking breakthrough and Kotak811 is well-positioned to lead this revolution. The platform offers a range of features, including instant onboarding in under five minutes, seamless UPI payments, and smart investment tools, all backed by the credibility of Kotak Mahindra Bank.
The evolution of Kotak811 is driven by a customer-centric approach, with the company listening deeply to its customers’ needs and expectations. Jay Kotak, Co-head of Kotak811, emphasized that today’s Indian consumer expects more than just a payment app, but a full-service bank that is fast, intuitive, and always accessible. Kotak811 delivers exactly that, with a focus on trust, security, and a user journey that feels second nature.
With over a billion mobile connections and a youthful, tech-savvy population, India is ripe for a digital banking revolution. Kotak Mahindra Bank is poised to capitalize on this trend with Kotak811, which offers a truly digital-first experience. The company believes that its platform will set a new standard for digital banking in India, with its seamless user experience, range of services, and commitment to trust and security. Overall, the launch of the new Kotak811 campaign marks an exciting new chapter for Kotak Mahindra Bank and its digital banking platform.
Kotak Mahindra Bank Enhances Medical Diagnostics at Tata Memorial Hospital, Parel – Reported by Medical Buyer
Kotak Mahindra Bank has taken a significant step towards improving cancer care in India through its Corporate Social Responsibility (CSR) initiative. The bank has funded the installation of a state-of-the-art PET-CT scanner at Tata Memorial Hospital in Mumbai, which will double the hospital’s daily scan capacity from 20 to 40 patients. This advanced technology is crucial for early cancer detection, therapy assessment, and recurrence monitoring, enabling timely and accurate diagnoses. With nearly 60% of the 80-100 daily PET CT scans offered at highly subsidized rates, Kotak’s support will significantly reduce patient wait times and improve access to advanced cancer diagnostics.
The new PET-CT scanner is more efficient and will enable the hospital to serve patients better. The CSR project also includes comprehensive upgrades to the PET-CT room’s infrastructure, such as new fixtures, flooring, control consoles, and enhanced seating capacity, all in compliance with Atomic Energy Regulatory Board (AERB) norms. This will enable the hospital to accommodate more patients and optimize operational efficiency.
According to Himanshu Nivsarkar, Head of CSR & ESG at Kotak Mahindra Bank, this initiative reflects the bank’s commitment to strengthening India’s healthcare ecosystem, particularly in critical areas like cancer care. Dr. CS Pramesh, Director of Tata Memorial Hospital, expressed gratitude to Kotak Mahindra Bank for their timely support, which has helped the hospital replace its old PET-CT scanner and improve its services.
In addition to the Mumbai hospital, Kotak Mahindra Bank has also extended its support to the Tata Memorial Hospital centre in Varanasi, named Mahamana Pandit Madan Mohan Malviya Cancer Centre (MPMMCC hospital), under its CSR initiative. This initiative demonstrates the bank’s commitment to providing accessible and equitable healthcare in India. Overall, Kotak Mahindra Bank’s CSR initiative aims to make a positive impact on the lives of cancer patients and their families, and this project is a significant step towards achieving that goal. With the new PET-CT scanner and upgraded infrastructure, Tata Memorial Hospital will be able to provide better care to its patients, and Kotak Mahindra Bank will continue to support the hospital in its mission to provide high-quality cancer care.
Update on Credit Card Fees: As of June 1, our bank will be introducing new credit card charges, so please be aware of these changes to your account.
Kotak Mahindra Bank has announced significant changes to its credit card charge structure, effective June 1, 2025. The new rules introduce fees for various transactions, including auto-debit failures, dynamic currency conversions, utility bill payments, education payments, wallet loading, online gaming, and fuel transactions. Additionally, the method of calculating the minimum amount due (MAD) has been revised.
One of the key changes is the introduction of a 2% charge on auto-debit failures, with a minimum fee of Rs 450 and a maximum of Rs 5,000. The MAD calculation has also been modified, with 1% of all purchases and cash transactions, plus 100% of EMI, finance charges, charges, and taxes, subject to a minimum of Rs 100 or the total amount due.
Other notable changes include a 3.5% charge on dynamic currency conversions for normal cards, with lower rates for premium cards such as Privy League Signature, White Reserve, and Kotak Infinite. A 1% charge will be levied on utility bill payments above the prescribed limit, education payments made through third-party apps, wallet loading exceeding Rs 10,000, and skill-based online gaming transactions above Rs 10,000.
However, some premium cards, such as White Reserve, Kotak Solitaire, Kotak Infinite, and Kotak Signature, will be exempt from certain charges, including utility bill payments, education payments, and wallet loading. Similarly, the IndianOil Kotak Card and other premium cards will not be subject to the 1% charge on fuel transactions above the prescribed limit.
It is essential for Kotak Mahindra Bank credit card holders to review these changes and understand how they will impact their transactions and payments. The new charges may lead to increased costs for cardholders who frequently use their cards for international transactions, utility bill payments, education payments, or online gaming. Nevertheless, premium cardholders may continue to enjoy exemptions from certain charges, making it crucial to review the terms and conditions of their specific card to minimize any potential fees.
Enjoy exclusive perks with the Kotak Mahindra Bank Solitaire credit card, including complimentary unlimited airport lounge access and a 1:1 conversion rate for Air India miles, plus many more benefits.
Kotak Mahindra Bank has launched a new credit card called Solitaire, offering unlimited and free domestic and international airport lounge access for both primary and add-on cardholders. The card also provides zero forex mark-up charges on international transactions and accelerated Air Miles benefits. Cardholders can convert their Air Miles to airline-specific miles, such as Etihad Airways, Air India, and Cathay Pacific, with a conversion ratio of 2:1 for most airlines.
The Solitaire credit card has an annual fee of Rs 25,000, but it is offered for free to Kotak Solitaire bank account holders. There are no joining fees for any customer. The card offers unlimited domestic and international lounge access, with four free lounge access for guests per year. The lounge access benefit includes two domestic lounge accesses and two international lounge accesses, with validation charges of Rs 2 for domestic lounges and USD 1 for international lounges.
The card’s Air Miles reward program offers three Air Miles for every Rs 100 spent on other spends, excluding certain categories such as utility, telecom, insurance, education, and government transactions. Accelerated Air Miles are offered for spends on Kotak Unbox, with 10 Air Miles for every Rs 100 spent on flight and hotel bookings. The Air Miles can be transferred to partner airlines and hotels, with a minimum transfer requirement of 2,000 Air Miles.
The redemption value of Air Miles on vouchers/catalogue purchases is Rs 0.5 per Air Mile, with a minimum redemption requirement of 500 Air Miles. Cardholders can also transfer reward points from another Kotak credit card to the Solitaire credit card, with the transferred points being valid for three years.
According to Ankur Mittal, co-founder of CardInsider.in, a credit card comparison website, the Solitaire credit card is a premium offering with valuable features like unlimited lounge access and zero forex markup. However, he suggests that improving the reward-to-miles conversion rate from 2:1 to 1:1 could make the card a top-tier contender in the premium travel segment.
Overall, the Kotak Solitaire credit card offers a range of benefits and features that cater to the needs of frequent travelers, including unlimited lounge access, zero forex mark-up charges, and accelerated Air Miles benefits. However, the card’s annual fee and conversion ratios may be a consideration for some users.
Rajiv Anand is likely to be considered for the top position at IndusInd Bank, according to insiders.
IndusInd Bank is considering Axis Bank’s Deputy Managing Director, Rajiv Anand, as a potential candidate for the role of Managing Director and CEO. This comes after the bank’s former CEO, Sumant Kathpalia, resigned taking moral responsibility for discrepancies found in the lender’s derivatives portfolio. Anand is set to retire from Axis Bank in August and has a strong background in retail, wholesale, and treasury, making him a suitable candidate for the role.
Sources close to the matter have indicated that Anand’s experience and skills make him a strong contender for the top job at IndusInd Bank. The bank’s board is looking for a candidate with retail experience, given its higher exposure to vehicle finance and micro loans. Anand’s background as a chartered accountant and his experience in handling mutual funds, retail, and wholesale segments, as well as his understanding of treasury, make him an attractive candidate.
Other candidates who may be considered for the role include Pralay Mondal, CEO of CSB Bank, Shanti Ekambaram from Kotak Mahindra Bank, and Anup Bagchi from ICICI Prudential Life Insurance. However, sources suggest that Anand is the most suited candidate for the job.
The discrepancies found in IndusInd Bank’s derivatives portfolio could have an impact of around ₹2,000 crore on the bank’s balance sheet. The bank’s former CEO, Sumant Kathpalia, resigned on April 29, taking moral responsibility for the discrepancies. The bank has received approval from the Reserve Bank of India to appoint a committee of executives to dispense the CEO’s duties until a new CEO is appointed.
Anand’s potential appointment as CEO of IndusInd Bank is seen as a positive move, given his experience and expertise in the banking sector. His retirement from Axis Bank in August is seen as a natural transition, and his consideration for the top job at IndusInd Bank is viewed as a natural next step in his career.
Overall, the search for a new CEO at IndusInd Bank is ongoing, and Anand is considered a strong contender for the role. His experience, skills, and background make him a suitable candidate to lead the bank forward, and his potential appointment is seen as a positive move for the bank.
Kotak Mahindra Bank’s Q4 FY25 Earnings Preview: What to Expect – Samco
Kotak Mahindra Bank is set to announce its Q4 results for FY25, and here are the key expectations:
Overview
Kotak Mahindra Bank is one of India’s leading private sector banks, with a strong presence in the retail banking, corporate banking, and treasury segments. The bank has consistently delivered strong financial performance, driven by its robust business model, efficient operations, and strategic investments in digital transformation.
Q4 Expectations
For the quarter ending March 2025, analysts expect Kotak Mahindra Bank to report a strong set of numbers, driven by:
- Net Interest Income (NII): A growth of 15-20% YoY, driven by a healthy increase in advances and a stable net interest margin (NIM).
- Non-Interest Income: A moderate growth of 10-15% YoY, driven by fees and commissions from retail banking and treasury operations.
- Provisions and Write-Offs: A decrease in provisions and write-offs, driven by a reduction in slippages and improvements in asset quality.
- Net Profit: A growth of 20-25% YoY, driven by the strong operating performance and lower provisions.
Key Trends to Watch
- Asset Quality: The bank’s asset quality has been improving consistently, with a decline in gross non-performing assets (GNPA) and net non-performing assets (NNPA).
- Retail Growth: The bank’s retail business has been a key driver of growth, with a strong increase in retail loans and deposits.
- Digital Transformation: The bank has been investing heavily in digital transformation, with a focus on mobile banking, online banking, and digital payments.
- Guidance: The management’s guidance on the bank’s growth prospects, asset quality, and provisioning requirements will be closely watched.
Outlook
The banking sector has been facing challenges due to the COVID-19 pandemic, but Kotak Mahindra Bank has navigated these challenges well, driven by its strong business model and prudent risk management. The bank is well-positioned to benefit from the economic recovery, driven by its strong retail franchise, improving asset quality, and digital transformation initiatives. Overall, analysts expect Kotak Mahindra Bank to deliver a strong set of Q4 results, driven by its robust operating performance and improving asset quality.
Government of India and Kotak Mahindra Bank Partner to Boost Investor Awareness through Innovative Digital Initiatives
The Investor Education and Protection Fund Authority (IEPFA) has partnered with Kotak Mahindra Bank Limited (KMBL) to enhance investor education and protection in India. The partnership aims to disseminate critical investor awareness messages through Kotak Mahindra Bank’s extensive physical and digital network across the country. IEPFA’s curated investor education content will be featured on the bank’s ATMs, kiosks, websites, mobile apps, and social media platforms, raising awareness on responsible investing, financial fraud prevention, and investor rights protection.
The initiative will be rolled out during the current financial year 2025-2026, with no financial obligation on IEPFA. Kotak Mahindra Bank’s widespread domestic presence of over 2,000 branches and 3,000 ATMs will ensure impactful outreach to diverse segments of the population. The partnership is a significant move to promote financial literacy and empower investors to protect themselves from financial fraud.
IEPFA, established under the Ministry of Corporate Affairs, Government of India, has been conducting investor awareness programs since its inception. The authority safeguards investor interests by promoting financial literacy and protecting investor rights. Kotak Mahindra Bank, one of India’s premier financial institutions, serves millions of customers through its extensive network, offering innovative banking and financial solutions.
The partnership is a result of the leadership of Smt. Anita Shah Akella, CEO of IEPFA, and Joint Secretary in the Ministry of Corporate Affairs. The Memorandum of Understanding (MoU) was exchanged between Smt. Samiksha Lamba, Deputy General Manager, IEPFA, and Mr. Vishal Agarwal, Senior Vice President and Head at Kotak Mahindra Bank, reinforcing trust in the financial ecosystem.
The collaboration is expected to have a significant impact on investor education and protection in India, promoting financial literacy and empowering investors to make informed decisions. With the partnership, IEPFA and Kotak Mahindra Bank aim to create a more informed and aware investor community, capable of navigating the complexities of the financial markets and protecting themselves from financial fraud. Overall, the partnership is a positive step towards promoting investor education and protection in India.
Kotak Mahindra Bank cuts savings account interest rates: Tips to maximize your returns and make your money grow – MSN
Kotak Mahindra Bank has announced a reduction in interest rates for its savings account holders. The new rates, which are effective immediately, will see a decrease in the interest earned on savings accounts. This move is likely to affect millions of customers who have their savings parked with the bank.
The reduction in interest rates is a result of the current economic scenario, where banks are struggling to maintain their net interest margins. With the reduction in policy rates by the Reserve Bank of India, banks have been forced to reduce their deposit rates to maintain their profitability. This has resulted in a decrease in the interest rates offered on savings accounts, fixed deposits, and other deposit products.
For instance, Kotak Mahindra Bank’s savings account interest rate has been reduced to 3.5% per annum for balances up to ₹1 lakh and 4% per annum for balances above ₹1 lakh. While this may not seem like a significant decrease, it can still result in a substantial loss of interest income for customers with large savings account balances.
So, how can customers make their money work harder in this scenario? One option is to consider opening a fixed deposit account, which can offer higher interest rates compared to savings accounts. Fixed deposits are time deposits offered by banks with a fixed interest rate and maturity period. They tend to be low-risk investments and can provide higher returns compared to savings accounts.
Another option is to explore alternative investment options such as mutual funds, equities, or debt instruments. These investments can offer higher returns compared to traditional savings accounts, but they also come with higher risks. It’s essential for customers to assess their risk tolerance and investment goals before making any investment decisions.
Customers can also consider parking their surplus funds in a liquid fund or an ultra-short-term fund, which can offer returns similar to savings accounts but with the flexibility to withdraw their money whenever needed. Additionally, they can also explore other banks or financial institutions that may be offering higher interest rates on savings accounts.
In conclusion, the reduction in savings account interest rates by Kotak Mahindra Bank may seem like a setback for customers, but there are still ways to make their money work harder. By exploring alternative investment options, considering fixed deposits, or shopping around for better interest rates, customers can ensure that their savings continue to earn a decent return. It’s essential for customers to be proactive and take control of their finances to maximize their returns in a low-interest-rate environment.