Kotak Mahindra

Topics: Kotak Mahindra Bank, Bank, Companies based in Mumbai Pages: 5 (1070 words) Published: March 10, 2013


Established in 1984, The Kotak Mahindra Group has long been one of India’s most reputed financial organizations. In Feb 2003, Kotak Mahindra Finance Ltd., the group’s flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI).This approval creates banking history since Kotak Mahindra Finance Ltd is the first company in India to convert to a bank. The license authorizing the bank to carry on banking business has been obtained from the RBI in tune with Section 22 of the Banking Regulation Act 1949. KMBL was promoted by Mr. Uday.S.Kotak, Kotak and Company Ltd and Mr. Sidney & A.A.Pinto under the name of Kotak Capital Management Finance Ltd on 21st Nov 1985 and obtained a Certificate of Commencement of Business on 11th Feb 1986.

Key group companies and their businesses
Kotak Mahindra Bank
Kotak Mahindra Capital Company
Kotak Securities
Kotak Mahindra Prime
Kotak Mahindra Asset Management Company
Kotak Mahindra Old Mutual Life Insurance Limited
* Mr. K.M.Gherda – Executive Chairman
* Mr. Uday Kotak –Executive Vice Chairman and Managing Director * Mr. Anand Mahindra –Co Promoter of Kotak Mahindra Bank and Vice Chairman and Managing Director of Mahindra and Mahindra * Mr. Cyril Shroff –Co Promoter

* Mr. Pradeep N Kotak –Agri Division of Kotak and Company Limited * Dr. Shanker Acharya
* Mr. Shivaji Dam –Managing Director Kotak Mahindra Old Mutual Life Insurance Limited * Mr. C.Jayaram –Executive Director
* Mr. Dipak Gupta –Executive Director
Product Detail
Kotak Mahindra Bank is one of the prominent subsidiaries of Kotak Mahindra group. The activities of the company being parallel to its objective are very wide and cover all the components of a Bank. The Basic area of Operations is the Banking business, other products are meant for the regular revenue generation. Being a Banking house, the company is in regular touch with Banking Accounts, Investment Services, Convenience Banking and Other Services. Kotak Mahindra Bank, it's not about selling you many different products — it's about working out a holistic, pragmatic solution that addresses your financial needs. Through their varied products,they commit themselves to becoming “banker” to the customer rather than being “asset financier” to our customers. Banking Services by Kotak Mahindra

There are three types of banking accounts:
* Savings Account
* Edge Savings Account:
* Pro Savings Account:
* Ace Savings Account
* Current Account
* Edge Current Account
* Pro Current account
* ACE Current Account
* Term Deposit

Investment Services
* Demat & On Line Trading Account
* Initial Public Offers(Ipo’s)
Mutual Funds
Convenience Banking
* Multiple Banking Channels
* ATM (Automatic Teller Machine):
* Phone Banking
* Mobile Banking
* SMS Banking

* Banking Hours
* Best Compliments Card – the perfect gift

* HDFC Bank
* ICICI Bank

HDFC BANK Market Strategy Emphasizes The Following:
* Increase market share in India’s expanding banking and financial services industry by following a disciplined growth strategy focusing on quality and not on quantity and delivering high quality customer service. * Leverage our technology platform and open scalable systems to deliver more products to more customers and to control operating costs. * Maintain current high standards for asset quality through disciplined credit risk management. * Develop innovative products and services that attract the targeted customers and address inefficiencies in the Indian financial sector. * Continue to develop products and services that reduce bank’s cost of funds. * Focus on high earnings growth with low volatility.

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