Tag Archives: Kotak Mahindra Bank

Banks relieved with MIP benefits for steel firms

MUMBAI: Several state-run and private banks can heave a sigh of relief, thanks to government’s Minimum Import Price (MIP) for steel which has boosted sales for domestic firms. The cash flows that have improved phenomenally for some steel companies have … Continue reading

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Jewellery demand picks up as gold prices witness a fall

Jewellery demand has picked up as gold prices have fallen to about Rs 44,000 per 10 gm, but investment demand has dried up as investors are parking funds in equity markets in hope of better returns, said, industry executives. Jewellers … Continue reading

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Financial service companies are now betting big on data

MUMBAI: Many banking, financial services and insurance (BFSI) players have turned data worshippers. Data can precisely map demographics, inpidual preferences and financial tendencies that help risk projection and customer relationship management. And the field is vast and perse from private … Continue reading

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HR Khan to take charge of microfinance code from December

KOLKATA: Reserve Bank of India‘s former deputy governor HR Khan will take charge as the first chairman of the steering committee of Code for Responsible Lending (CRL) in microfinance on December 1, a person familiar with the development said. MFIN … Continue reading

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Government extends term of Uday Kotak as IL&FS chairman by one year

NEW DELHI: The government on Wednesday extended the term of Uday Kotak as non-executive chairman of debt-ridden IL&FS group by one year. The government through a gazatte notification extended term of Kotak, who is managing director and chief executive officer … Continue reading

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Kotak bucks trend records deposit inflow

Mumbai: Private lender Kotak Mahindra Bank said it’s deposits grew by over Rs 27,000 crore in a quarter when peer banks IndusInd and RBL saw outflows of 8-10% in their liabilities. Kotak added Rs 12,871 crore to its savings deposits … Continue reading

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Kotak Mahindra Bank slashes interest rate by 0.50 pc on savings deposits

Mumbai: Private sector lender Kotak Mahindra Bank (KMB) on Monday slashed the interest rate on savings deposits by a further 0.50 per cent. The bank has cut rates twice last month on its deposit rate offering on the savings accounts. … Continue reading

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RBI plans to overhaul corporate governance structure of banks

The Reserve Bank of India plans to overhaul the corporate governance structure of Indian banking system, limiting the terms of directors and chief executive officers and placing more responsibility on the board of directors for a bank’s culture and compensation. … Continue reading

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Financial sector will need to be recapitalised, says Uday Kotak

New Delhi: The financial sector needs recapitalisation as it will witness erosion of capital due to increase in bad loans caused by the COVID-19 crisis, Kotak Mahindra Bank MD Uday Kotak said. He further said there will be costs that … Continue reading

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Banking @WhatsApp a win-win partnership

Mumbai: As Indian lenders rewire their branch banking services in favour of digital alternatives during the lockdown, WhatsApp is sensing an opportunity in its biggest market to capture a new user segment – retail banking. The Facebook-owned messaging platform has … Continue reading

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