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Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai.It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. [6]
In 2015, eleven companies received In-principle approval from the Reserve Bank of India to set up Payments Bank under the guidelines for Licensing of Payments Bank. [6]On 11 April 2016, Airtel Payments Bank became the first company to receive the Payments Bank license from the Reserve Bank of India under Section 22 (1) of the Banking Regulation Act, 1949.
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]
Non-performing property loans are found to lead to banking crises. [32] The need to identify the relationships between macroeconomic factors and NPLs had been crucial for governments and financial institutions to monitor the economy and undertake necessary policies or decisions to control and reduce the number of NPPLs in the financial system.
In a direct auto loan, a bank lends the money directly to a consumer. In an indirect auto loan, a car dealership (or a connected company) acts as an intermediary between the bank or financial institution and the consumer. Other forms of secured loans include loans against securities – such as shares, mutual funds, bonds, etc.
Hunter Fraud Score is a rating score in India prepared by the credit information company Experian to help detect fraud in credit applications through analytical approach. The score was launched in 2016 and is used by Indian banks and insurance companies to help them lower their losses.
Unified Payments Interface (UPI) is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions.
Term loans are normally business loans and are in contrast to a line of credit or short term demand loans. [1] The ability to repay over a long period of time can be attractive for new or expanding enterprises, as the assumption is that they will increase their profit over time thus being able to repay the loan. [2]