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The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: the National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) systems.
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 ...
In December 2015 the first International Financial Services Centre (IFSC) in India was set up in Gujarat International Finance Tec-City (GIFT City). [5] In 2019 the Government of India enacted an Act of Parliament called the International Financial Services Centres Authority Act, 2019. [6] [7] [5]
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]
Zurich Kotak General Insurance Company is an Indian general insurance company headquartered in Mumbai. It offers non-life insurance products like motor , health , home and others. [ 3 ] It is 70% owned by Swiss insurance company Zurich Insurance .
2000 – Initial Public Offer. Follow on Public Offer in 2003. The first public sector bank to introduce anywhere banking at its 129 branches in the four metros, is extending the connectivity to another 100 branches in Hyderabad, Bangalore, Ahmedabad and Ludhiana.
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Ludhiana Central Assembly constituency is one of the 117 Legislative Assembly constituencies of Punjab state in India. [ 2 ] [ 3 ] It is part of Ludhiana district, which is one of the major industrial and commercial centers in Punjab.