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Kotak Mahindra Bank IFSC Code

About Kotak Mahindra Bank

Kotak Mahindra Bank Ltd as per the latest research study is the fourth largest Indian private sector bank by market capitalization. Its headquarter is located in Mumbai, in the state of Maharashtra, in India. Its registered office is situated at 27BKC, Bandra Kurla Complex, in Bandra East, in Mumbai, in India. It is to be noted that Kotak Mahindra Finance Ltd, the groups flagship company was given the licence in order to carry on banking business in a successful manner by the Reserve Bank of India in February 2003. It is initial company in the Indian banking history to successfully convert to a bank. In 2014, it merged with ING Vysya Bank. This merger happened with ING Vysyas 29,000 employees. As per the official report of 30 September 2014, this bank has approximately 970 branches and around 1,159 ATMs in 363 locations spread across in the country.

Special features of Kotak Mahindra Bank

• Kotak Banks personal banking facilities comes with accounts and deposits, loans, cards, investment and insurance, financial inclusion, convenience banking, make payment and agribusiness.
• Kotak Banks NRI banking facilities comes with accounts and deposits, transfer money, loans, cards, investment and insurance plus convenience banking.
• Kotak Bank also provides special offer to corporate clients with different types of financial products and its related services.

Kotak Mahindra Bank IFSC Code and MIRC code

The Kotak Mahindra Bank IFSC code comes with eleven digits, commencing with KKBK 0****** as a branch identification code largely used for interbank transactions such as RTGS, NEFT and IMPS. It is to be remembered that it is very specific in order to each and every bank branch. The RTGS, MICR and NEFT codes are also largely used in these banking transactions through online mode. It is to be highly noted that the IFSC Code is perfectly assigned to each IMPS, NEFT and RTGS, plus actively participating bank by the reserve bank of India. This particular code with MICR code ensures that all online transactions are secured and secure plus the funds are immediately transferred to the beneficiary account rightly in a successful manner.

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• It is really very easy to find Kotak Mahindra Bank IFSC code and MICR codes through the given "use drop down menus".
• The IFSC code can be perfectly searched by bank name wise, state wise, city wise and area wise.
• All the specific details and relevant information such as the branch name, branch address, phone numbers, IFSC Code for Kotak Mahindra Bank branches, the MICR code and branch code is provided on the above selection.

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Kotak Mahindra Bank IFSC Code News:

Innovation Lab Launched by Kotak Mahindra Bank, keen to invest in startup

A senior representative of Kotak Mahindra Bank reported they have launched “Innovation Lab” to grab the most excellent technology which effects its banking operations and is keen to invest in startup businesses. This lab has been started in Bengaluru. Deepak Sharma, Chief Digital official of Kotak Banks stated the recently started “Innovation lab” is presently focused on collaborating with startups of financial technology sector to examine ideas & then introduce them into market. Kotak Bank which stands fourth in the largest private sector bank list, has assembled 7 representative specialized group, which is engaged with same number of startup units in the biometric, artificial intelligence, iris scanning, analytics & machine learning sector. Sharma further reported, Large amount of startup are based in Bengaluru, whereas 2 startups are from Australia & the US.

Domestic moneylenders, of the private sector banks has started growing their involvement with the upcoming financial technology startup communities to align them with the new technologies of the coming days which will support these lenders to remain purposeful.

Initiatives have been taken by these domestic lenders, they have supplied funds to contribute into the startups. The lenders have also begun ideation competition, organized “hackathons” & started incubation centres.

Sharma stated the launched lab situated its office on MG Road in Bengaluru is not be confused as incubation centre. He further said that the Kotak bank is eager to invest in any other startups though the bank has no dedicated fund as of now. He stated the Kotak bank with help of this initiative will go on calculating potentiality on partnering, investing & incubation startups. The lab will also give employment to more people in coming six months. Sharma explained this initiative as agile model & asset-light business model in which the bank is engaging with chosen partners.

2016/08/15 10:01 PM

FMP Series 196 (1099 days) scheme launched by Kotak Mahindra Mutual Fund

A closed ended income scheme has been launched by the Kotak Mahindra Mutual Fund. The scheme  is called Kotak FMP Series 196 (1099 days ). The subscription for NFO or new fund offer opened on July 14,2016 and closes on July 18,2016 i.e. today. The entry and exit load for the scheme is nil. The minimum amount you need to pay in order to subscribe is Rs. 2000. The manager of the fund is Mr. Deepak Agarwal. CRISIL Composite Bond will be the benchmark for the scheme. The scheme will generate returns through investments in debt and money market instruments and the aim of the scheme is to reduce the interest rate risk. The scheme will make an investment in debt and money market securities which will mature on or before the scheme matures.

2016/07/19 03:39 AM

Mohan Shenoi said that USD-INR to trade between 67.30-67.60/USD range

Kotak Mahindra Bank spokesperson Mr. Mohan Shenoi said that political turmoil in UK is still very much there after the Brevix vote and pound has hit a new low of 1.28.

He further added that the bond markets are rallying  partly since there has been a risk off sentiment . This rallying effect has also rubbed off on the Indian market. What is acting as a dampener though is the fact that CPI for June is expected higher around 6 %.  

2016/07/08 10:16 PM

Kotak Bank said that the weak underbelly of Indian banking was exposed

Kotak bank also questioned if the nationalization of banks was indeed helping since today most of these banks were suffering due to loans to huge corporate giants. Eminent banker Uday Kotak said there is more bad news for the banking industry and the weak underbelly of the banking sector has been exposed although most of the lenders /banks have started cleaning up their balance sheets.

2016/06/30 10:04 AM

At 9.65%, Kotak Mahindra Bank fixes MCLR for one year

With effect from April 1st 2016, the bank has largely approved marginal cost-based lending rate (MCLR), for all Rupee loans successfully sanctioned according to RBI guidelines. At 9.65 per cent, Kotak Mahindra Bank recently declared its marginal cost of funds perfectly based lending rate (MCLR) for one year. On the other hand, with effect from April 1st 2016, this bank has at present approved MCLR for all Rupee loans sanctioned under the RBI norms. It is to be noted the bank has in the recent past declared MCLR other tenors just besides the one-year tenor such as six months at 9.40 per cent, three months at 9.25 per cent, one month at 9 per cent and overnight at 8.90 per cent. On a monthly basis, this will properly review and immediately publish the K-MCLRs. It is to be remembered that the bank has decided MCLR over one year to be the same at 9.65 percent in the open market.

2016/04/09 09:33 AM

Canada pension board and Kotak Mahindra, launch $525 mn stressed asset fund

With Canadian Pension Plan Investment Board (CPPIB), Kotak Mahindra Group has largely tied up in order to grandly launch a $525 million fund to directly invest in the stressed asset market in Indian open market with a lot of perfection. In this particular partnership, the Canadian pension fund manager will have the great option to directly invest approximately $450 million. With aim recover, to restructure and turn around perfectly companies in total distress, the fund actually has a flexible investment mandate to a great extent. It is to be remembered that from the current stress, this particular investment will largely address the growing opportunity just directly or indirectly arising in the corporate sectors and Indian banking. At present, Kotak Mahindra Bank owns nearly 49% stake in Phoenix Asset Reconstruction Company (ARC) Pvt. Ltd which is its affiliate.

2016/03/27 06:48 AM

Kotak Mahindra Bank comes with special credit card for housewife

Kotak Mahindra Bank which is regarded as Indias fourth largest private sector lender in the open market will provide credit cards for women customers exclusively on the occasion of international womens day. The credit card is named as "Kotak Silk Inspire" credit card that largely targets housewifes who dont have any kind of fixed monthly income plus can be perfectly availed against fixed deposits in any situations, circumstances and conditions. It is to be remembered that this credit card will largely offer 5% fuel surcharge waiver, savings on apparel plus Silk Inspire Shield for protection against card misuse. This particular information was shared to the print and electronic media by Shanti Ekambaram, President-Consumer Banking, Kotak Mahindra Bank.

2016/03/21 06:46 AM

Kotak Mahindra Banks Int subsidiary purchases stake in HMVL

Recently, Kotak Mahindra Bank officially announced that its subsidiary Kotak Mahindra (International) Ltd (KMIL) has wholeheartedly acquired approximately 17.5 lakh equity shares in Hindustan Media Ventures at an amount of Rs 1.75 crore. The bank also stated that BSE regarding this significant acquisition of 17,50,000 equity shares at an amount of Rs 10 each largely aggregating Rs 1.75 crore perfectly being 2.38 per cent of the paid-up capital of HMVL. It is to be remembered that Hindustan Media Ventures Limited is the publisher of Hindustan. It is one of Indias leading Hindi language dailies with long list of esteemed existing and potential readers in the open market.

It is to be highly noted that Hindustan has important 4 editions plus 113 sub editions across the Hindi region in India. On the other hand, Kotak Mahindra Bank is a popular and leading Private investment banking company in the Indian Banking sector. It headquartered is locatd in Mumbai, in the state of Maharashtra, in India. The Reserve Bank of India proudly gave the licence to Kotak Mahindra Finance Ltd in February 2003 which is the groups flagship company that perfectly carries on banking business for its esteemed existing and potential customers in the open market. Its CEO and Founder is Uday Kotak. It was established in 2003 in the open market in a successful manner. It revenue as per 2011 stood at 109.6 billion INR and Net income was 15.69 billion INR according to the official records.

2016/02/23 05:33 AM

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