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A man walks past the Kotak Mahindra Bank branch in New Delhi. File | Photo Credit: Reuters Kotak Mahindra Bank Ltd for the second quarter ended September 30, 2024 reported 5% year-on-year growth in net profit at ₹3,344 crore. Net Interest Income (NII) increased to ₹7,020 crore, up 11% Y-o-Y. Net Interest Margin (NIM) was 4.91%…
Read More “Kotak Mahindra Bank Q2 net profit rises 5% to ₹3,344 crore” »
According to exchange data, equities worth ₹9,791.93 crore were sold by FIIs on Monday, September 30, 2024, while Domestic Institutional Investors DIIs purchased equities valued at ₹6,645.80 crore. File | Photo Credit: Reuters Benchmark indices Sensex and Nifty edged lower on Tuesday (October 1, 2024), extending the losing run to the third day amid profit-taking…
Read More “Stock markets settle flat in highly volatile trade; oil & gas, FMCG shares major drag” »
Image for representational purposes only. | Photo Credit: PTI Equity benchmark indices Sensex and Nifty ended lower on July 22, dragged down by heavy selling pressure in Reliance Industries and Kotak Mahindra Bank ahead of the Budget. Besides, a weak trend in global equity markets also hit investors sentiment, traders said. Falling for the second…
Share brokers watching stock prices at BSE Sensex and NSE Nifty at Calcutta Stock Exchange in Kolkata. File | Photo Credit: PTI Equity benchmark indices rebounded in early trade on Monday following a rally in the U.S. markets and heavy buying in Kotak Mahindra Bank. The 30-share BSE Sensex climbed 328.54 points to 74,206.69 in…
Read More “Markets rebound in early trade amid firm trends at Wall Street, buying in Kotak Bank” »
Uday Kotak built his Kotak Mahindra Bank Ltd. over decades to become Asia’s richest banker. After India’s regulator slapped his bank with a surprise ban, he’s facing one of his biggest tests yet – and a dip in wealth. The lender’s shares tumbled as much as 13% on Thursday after it was barred from adding…
Read More “Kotak Mahindra’s Shares Fall After Ban On Cards And New Online Clients” »
Infina Finance, owned by the Kotak family, is listed as one of the promoter group entities. New Delhi: Infina Finance, one of the promoter group entities of Kotak Mahindra Bank – currently facing RBI action, had donated electoral bonds worth Rs 60 crore to the BJP. Infina Finance, owned by the Kotak family, is listed…
The bank said it is working with the RBI to address remaining issues. New Delhi: Hours after the Reserve Bank of India prohibited Kotak Mahindra Bank from onboarding new customers online and issuing fresh credit cards, citing issues with the company’s data security and information technology infrastructure, the bank has said it is adopting new…
Read More “Services Won’t Be Interrupted For Existing Customers: Kotak Mahindra Bank” »
The RBI said it has decided to place some curbs on the bank in the interest of the customers. New Delhi: Citing data security concerns and deficient IT infrastructure, the Reserve Bank of India has barred Kotak Mahindra Bank from onboarding new customers online and issuing new credit cards with immediate effect. The bank can,…
Read More “Kotak Mahindra Bank Barred By RBI From Onboarding New Online Customers” »
Ashok Vaswani is presently the president of Pagaya Technologies New Delhi: Kotak Mahindra Bank has received approval from the Reserve Bank of India (RBI) for the appointment of Ashok Vaswani as the bank’s Managing Director and Chief Executive Officer. Here are a few facts about Ashok Vaswani: 1. Ashok Vaswani is presently the president of the…
Bengaluru: The Reserve Bank of India (RBI) on Tuesday said that it has imposed a penalty of Rs 12 crore 19 lakh on ICICI Bank for violating rules related to the code of conduct for the bank’s directors and for fraud reporting. The RBI’s inspection reports showed ICICI Bank had sanctioned or committed loans to…
Read More “RBI Fines ICICI Bank, Kotak Mahindra Bank For Failing To Report Fraud” »