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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.
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]
A fixed deposit (FD) is a tenured deposit account provided by banks or non-bank financial institutions which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. The term fixed deposit is most commonly used in India and the ...
Forced closure of deposit accounts without due notice or without sufficient reason; Closure of account without customer concern. Refusal to close or delay in closing the accounts; Non-adherence to the fair practices code as adopted by the bank; and; Financial loss incurred to customer due to wrong information given by bank official.
The Reserve Bank of India extended financial support to the Board, meeting its expenses for the first five years. [3] However, on 28 September 2021, the member banks passed resolutions approving BCBSI dissolution. Accordingly it has stopped its operations and is under dissolution. [4]
Citigroup shares closed up 2.5%, Bank of America rose 1.4%, and Wells Fargo edged up 1.1% as the banking giants’ stocks gave back some of their earlier gains.
User can authenticate a NACH API e-mandate on the web. The customer gets directed to the NPCI website, where customer has to choose their bank, and then authenticate via one of the two methods - 1. Net banking credentials 2. Debit card. [3] Kotak Mahindra Bank became the first bank to allow customers to choose both methods for authentication. [5]
The bank had also been ranked the "Safest Banker" by the New Indian Express and among "Top 5 Most Trusted Private Sector Banks" by the Economic Times. [7] 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]