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In February 2003, Kotak Mahindra Finance received a banking licence from the Reserve Bank of India, becoming India's first non-banking finance company to be converted into a bank. Kotak Mahindra Finance was then renamed Kotak Mahindra Bank. [15] At the time, Uday Kotak had a 56% stake in the company while Anand Mahindra held a 5% stake. [16]
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A bank holiday, like a weekend, can affect how long it takes for funds from a check to become available in your account. Bank holidays 2025 In 2025, the Federal Reserve will observe 11 federal ...
Uday Suresh Kotak (born 15 March 1959) is an Indian billionaire banker and founder of Kotak Mahindra Bank, where he is a non-executive director. [2] He resigned from his CEO position in September 2023. [ 3 ]
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]
Kotak may refer to: Kotak (band), an Indonesian rock band; Kotak (surname), surname and people who bear it; Kotak Mahindra Bank, an Indian financial service firm; Kotak Securities, subsidiary of Kotak Mahindra Bank; Kotak, Iran (disambiguation) Qal'eh-ye Kotak (Kotak Castle), a village in Iran; Kotak Bozorg (Greater Kotak), a village in Iran
At Barclays Bank, UK, he has worked as the CEO. Subsequently, he has also worked as CEO of the Global Consumer, Private, Corporate and Payments businesses of the bank. He has also worked as a member of the group executive committee. [4] Presently He joined as CEO for Kotak Mahindra Bank, India.
The goal of the e-stamp was to "prevent paper and process-related fraudulent practices" according to the SHICL chairman and managing director at that time, RC Razdan. It implemented the e-stamping facility in five cities of Gujarat – Ahmedabad, Gandhinagar, Surat, Rajkot and Baroda – as well as Bangalore, in March 2008.