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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]
Punjab National Bank (abbreviated as PNB) is an Indian government bank based in New Delhi. [5] It was founded in May 1894 and is the second-largest public sector bank in India in terms of its business volumes, with over 180 million customers, 12,248 branches, and 13,000+ ATMs .
Life Insurance Corporation of India: Govt. Mumbai: 1956 2: HDFC Life Insurance Co. Ltd. Private Mumbai: 2000 3: Axis Max Life Insurance Co. Ltd. Private Delhi: 2000 4: ICICI Prudential Life Insurance Co. Ltd. Private Mumbai: 2000 5: Kotak Life Insurance Co. Ltd. Private Mumbai: 2001 6: Aditya Birla Sun Life Insurance Co. Ltd. Private Mumbai: 2000 7
In 2011, PNB acquired a 30% stake in MetLife India Insurance. On 7 December 2012, PNB and MetLife India approached the Competition Commission of India (CCI). In January 2013, PNB received full approval to purchase a 30% stake in MetLife India Insurance. This new private sector life insurer was re-branded as PNB MetLife India Ltd. [2]
A personal identification number (PIN; sometimes redundantly a PIN code or PIN number) is a numeric (sometimes alpha-numeric) passcode used in the process of authenticating a user accessing a system. The PIN has been the key to facilitating the private data exchange between different data-processing centers in computer networks for financial ...
In April 2017, Kotak Mahindra Bank acquired Old Mutual's 26% stake in Kotak Mahindra Old Mutual Life Insurance for ₹ 1,292 crore (US$198.4 million), making the life insurance company its wholly-owned subsidiary. [30] In 2021, Kotak Mahindra Bank sold its 8.57% stake in Airtel Payments Bank to Bharti Enterprises for ₹ 295 crore (US$39.81 ...
Zurich Kotak General Insurance Company is an Indian general insurance company headquartered in Mumbai. It offers non-life insurance products like motor, car, bike, health, travel, Home insurance and others. [3] It is 70% owned by Swiss insurance company Zurich Insurance.
Kotak Mutual Fund is an Indian private asset management company. KMAMC started operations in December 1998 and as of 2018 [update] , had approximately 74 Lakh investors in various schemes. [ 6 ] The fund is a wholly-owned subsidiary of Kotak Mahindra Bank .