Company Profile
It offers various banking and financial solutions for corporate and retail customers. In 1985, Uday Kotak created Kotak Capital Management Finance as an investment and financial facilities business, with a loan from family and friends. In 1986, Anand Mahindra and his father Harish Mahindra invested `1 lakh in the business and the organization was then renamed as Kotak Mahindra Finance. Kotak Mahindra Finance was initially engaged in bills discounting, lease and hire purchase. In the early 1990s, they began vehicle financing business along with investment banking operations and extended its services abroad. In the year 2003, Kotak Mahindra Finance received a banking licence from the Reserve Bank of India and became the first non-banking finance company in India to be converted into a bank was then renamed as Kotak Mahindra Bank. As of February 2021, the bank has 1600 (approximately) branches all over the country.
Banking Industry in India
This story is from the December 01 - 31, 2022 edition of BUSINESS ECONOMICS.
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This story is from the December 01 - 31, 2022 edition of BUSINESS ECONOMICS.
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