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CASA ratio stands for current and savings account ratio. CASA ratio of a bank is the ratio of deposits in current, and saving accounts to total deposits. A higher CASA ratio indicates a lower cost of funds, because banks do not usually give any interests on current account deposits and the interest on saving accounts is usually very low 3–4%. [1]
In March 2017, Kotak Mahindra Bank launched an online savings account called Kotak 811, [26] named after the date Prime Minister Narendra Modi had announced demonetisation in the previous year (8 November), which according to Uday Kotak was "the day that changed India." [27] [28] Kotak 811 helped the bank double its number of customers by ...
A Flexi-Fixed deposit is a special kind of deposit offered by banks in India. It is a combination of a demand deposit and a fixed deposit . The depositor is able to enjoy both the liquidity of savings and current accounts and the high returns of fixed deposits.
The MIBOR is used as a bench mark rate for majority of financial derivative deals struck for interest rate swaps, forward rate agreements, Floating Rate Debentures and term deposits in India. The rate is fixed on the basis of volume based weighted average of traded rates from 9 am to 10 am each morning.
On 20 November 2014, in an all-stock amalgamation, ING Vysya Bank decided to merge with Kotak Mahindra Bank, creating the fourth largest private sector bank in India. [8] On 1 April 2015, the Reserve Bank of India approved the merger. On 15 May 2016 the whole merger process was completed. [9]
Kotak Mutual Fund is an Indian mutual fund that is managed by Mahindra Asset Management Company (KMAMC). KMAMC started operations in December 1998 and as of 2018 [update] , had approximately 74 Lakh investors in various schemes. [ 6 ]
A variable-rate CD — also called a flex CD — is a type of certificate of deposit with an interest rate that can fluctuate periodically over the term of the CD based on market conditions.
National Securities Depository Limited (NSDL) is an Indian central securities depository, based in Mumbai.It was established in August 1996 as the first electronic securities depository in India with national coverage. [2]