Kotak Mahindra

Established in 1984, The Kotak Mahindra Group has coarse been one of Indias most reputed financial organizations. In Feb 2003, Kotak Mahindra Finance Ltd. , the radicals flagship company was given the license to draw out on banking chore by the Reserve swan of India (RBI). This approval creates banking history since Kotak Mahindra Finance Ltd is the outset company in India to convert to a bank. The license authorizing the bank to carry on banking business has been obtained from the RBI in tune with Section 22 of the riming Regulation Act 1949. KMBL was promoted by Mr.Uday. S. Kotak, Kotak and confederation Ltd and Mr. Sidney & A. A. Pinto under the name of Kotak slap-up Management Finance Ltd on 21st Nov 1985 and obtained a Certificate of first gear of Business on 11th Feb 1986.Key group companies and their businesses Kotak Mahindra posit Kotak Mahindra Capital Company Kotak Securities Kotak Mahindra Prime Kotak Mahindra Asset Management Company Kotak Mahindra Old uncouth aliveness Insurance moderate BOARD OF DIRECTORS * Mr. K. M. Gherda Executive hot seat * Mr. Uday Kotak Executive frailness Chairman and Managing Director * Mr.Anand Mahindra Co Promoter of Kotak Mahindra bank building and Vice Chairman and Managing Director of Mahindra and Mahindra * Mr. Cyril Shroff Co Promoter * Mr. Pradeep N Kotak Agri Division of Kotak and Company throttle * Dr. Shanker Acharya * Mr. Shivaji Dam Managing Director Kotak Mahindra Old Mutual Life Insurance Limited * Mr. C. Jayaram Executive Director * Mr. Dipak Gupta Executive Director Product Detail Kotak Mahindra Bank is one of the prominent subsidiaries of Kotak Mahindra group. The activities of the company being parallel to its objective ar very wide and cover all the components of a Bank.The Basic compass of Operations is the Banking business, other intersection points are meant for the regular revenue generation. Being a Banking house, the company is in regular touch with Banking broadsheets, Inves tment Services, Convenience Banking and opposite Services. Kotak Mahindra Bank, its not about selling you many divers(prenominal) products its about working out a holistic, pragmatic solution that addresses your financial needs. Through their change products,they commit themselves to becoming banker to the customer rather than being asset moneyman to our customers.Banking Services by Kotak Mahindra There are three types of banking accounts * Savings tarradiddle * Edge Savings paper * Pro Savings Account * pinpoint Savings Account * Current Account * Edge Current Account * Pro Current account * admirer Current Account * confines Deposit Investment Services * Demat & On Line Trading Account * Initial Public Offers(Ipos) Mutual Funds Convenience Banking * Multiple Banking carry * ATM (Automatic Teller Machine) * Phone Banking * Mobile Banking * SMS Banking OTHER SERVICES * Banking Hours * exceed Compliments Card the perfect giftCOMPETIVE PROFILE * HDFC Bank * ICICI Bank H DFC intrust Market Strategy Emphasizes The Following * Increase market share in Indias expanding banking and financial go exertion by following a disciplined growth strategy focusing on quality and not on quantity and delivering mellow quality customer service. * Leverage our engineering science platform and open scalable systems to deliver more(prenominal) products to more customers and to retain operating costs. * Maintain current high standards for asset quality through and through disciplined credit risk management. Develop innovative products and services that extract the targeted customers and address inefficiencies in the Indian financial sector. * Continue to develop products and services that reduce banks cost of funds. * Focus on high earnings growth with low volatility. ICICI cashbox MARKETING STRATEGY OF ICICI BANK * Indias second largest bank * 614 branches and extension counters * 2200 ATMS * Biggest semiprivate sector bank in India * Most valuable bank in In dia in terms of market capitalization * Described by the competitors and industry expert in one word Aggressive Strategy of Kotak Mahindra 1.Kotak Mahindra Bank is Leading Bank in the country, it get outs a variety of products and services to different segments of customers. 2. The Bank aims to serve customers from teenagers to senior citizens, hence different products designed to casing specific emergencys of the above. 3. Aims to serve all buildes of the society from the salaried middle class to the high income business class. Customers are categorized and segmented according to their requirements and needs. For Example, the leap Saving Account aims to serve middle class customers so marginal balance required to be maintained is Rs. 0000. While the PRO and ACE Saving Accounts are targeted at high income customers, the minimum balance requirement is Rs. 20000 and Rs. 75000.4. Customers who are more profitable to the Bank (High Value Customers) are provided particular(prenom inal) facilities. Priority Banking is meant to serve these high value customers. 5. The Bank prides itself with the ability to provide differentiate products in the crowded market of saving accounts. Bank offers the alleviate home baking, special co-branded debit cards (Smart fill Debit Card) which makes its product unique. . The Bank is also involved in marketing activities which serves as a medium of advertisement for the Bank. These are as follows * Extended happy hours at certain pubs in Delhi for the Banks account holders. * Gift Vouchers on making utility payments, such as cell phones, electricity and MTNL bills. * dislodge Gifts like caps, pens/wallets to its customers. * Free add-on cards for relatives. 7. The Bank wants its customers to transact more through Internet Banking and ATM, Rather than the customers using the branch. 8.The Debit Cards provided by the Bank are Internationally Accepted around the world, hence well-favoured the customers the convenience to transac t anytime, anywhere. 9. The Bank has tied up with other Banks so that its customers can use other Banks ATM mental quickness for free transactions 10. The Bank also provides DEMAT account and also sells Mutual Funds, this provides the Bank and Government additional revenue. 11. The Bank has been very successful in enlarging its customer base during the last couple of years. 12. The Number One argue of people choosing Kotak Mahindra Bank is the Brand Name/Reputation of the Bank.Hence it should be sleepless that the Brand name and Goodwill the Bank has earned is not diluted. 13. The Biggest competitors of the Bank are ICICI Bank and HDFC Bank and STANDRAD CHARTERED. 14. ATM Facility is most habitual way to transact with the Bank. 15. Overall the customers appreciate the service and products offered by the Bank and are willing to recommend the Bank to their acquaintances , But more management has to paid towards * Increasing the number of ATM machines. * Improving Internet Banking Facility.