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In 2015, Kotak Mahindra General Insurance, a wholly-owned subsidiary of Kotak Mahindra Bank, started operations after receiving IRDAI's approval. [23] In 2016, Bharti Airtel and Kotak Mahindra Bank started an 80:20 joint venture called Airtel Payments Bank. [24] In 2016, Kotak Mahindra Bank acquired BSS Microfinance for ₹ 139.2 crore (US$20. ...
The Kotak Mahindra Group was founded in 1985 as a provider of financial services. [8] [9] In February 2003, Kotak Mahindra Finance Ltd (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI) to conduct banking operations in the country and was renamed as Kotak Mahindra Bank, the parent company of Kotak Life Insurance. [10]
Bharti Airtel launched Airtel Payments Bank in September 2016 and went live with its pilot project in Rajasthan in November 2016. [6] It was launched nationally in January 2017 to support the cashless revolution promised by the Government of India. [9] In August 2021, Kotak Mahindra sold its stake to Bharti Enterprises. As of 31 December 2021 ...
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