Life Insurance Corporation of India, a government-controlled insurance company that has the highest share of the market in India, can continue to increase its stake in private lender Kotak Mahindra Bank, having got the nod from Reserve Bank of India to increase its stake to 9.99%. LIC has been increasing its stake in Kotak Mahindra […]
Kotak Mahindra Bank said its customer base increased by 50% in nine months after it launched a mobile app to facilitate quick opening of bank accounts using Aadhaar. The company launched an app called 811 on March 29, 2017, three months after the Reserve Bank of India allowed banks to establish their customer’s identity by […]
Kotak Mahidra Bank said it has agreed to acquire BSS Microfinance Pvt Ltd for Rs 139.2 crore in cash. BSS Microfinance Pvt Ltd is an non-banking micro finance institution. It exends microfinance to poor rural and semi urban women, primarily for income generating activities, and also for life quality improvement activities. As at June 30, […]
Kotak Mahindra Bank said it is now offering a lower home loan rate of 9.35% as part of a festive season discount and will also provide business loans and overdraft at up to 1% lower interest rate with 25% waiver on processing fees till 10th September. SBI already offers home loan rates of around 9.3%, while ICICI […]
