Kotak Mahindra Bank

Kotak Mahindra Bank News

Sensex plunges 434 points, Nifty plummets 139 points; rate-sensitive bank, auto, realty stocks fall up to 5% post-RBI rate cut
Business

Sensex plunges 434 points, Nifty plummets 139 points; rate-sensitive bank, auto, realty stocks fall up to 5% post-RBI rate cut

The RBI cut repo rate by 25 basis points to 5.15 percent, bringing the cumulative reduction in the interest rate of 135 basis points for this calendar year

IL&FS crisis: Uday Kotak gets one-year extension on bankrupt infra lender's board, exemption given on RBI recommendation
Business

IL&FS crisis: Uday Kotak gets one-year extension on bankrupt infra lender's board, exemption given on RBI recommendation

Kotak was appointed by the government as the head of the lender's board which will help the troubled company come out of difficulties after the state took over the board.

Bankers agree to take steps to review lending rate transmission: Finance Ministry
Business

Bankers agree to take steps to review lending rate transmission: Finance Ministry

The finance ministry on Monday said banks have agreed to take steps to review lending rates as they have not "commensurately" transmitted to borrowers benefits of reduction in the policy rate by the RBI

Eight of top-10 firms lose Rs 89,535 cr in market valuation; State Bank of India hit hard
Business

Eight of top-10 firms lose Rs 89,535 cr in market valuation; State Bank of India hit hard

The valuation of State Bank of India tumbled Rs 30,388.3 crore to Rs 2,75,279.64 crore

Shadow banking crisis: State Bank of India tightens lending terms for auto dealers, says report
Business

Shadow banking crisis: State Bank of India tightens lending terms for auto dealers, says report

As part of the revised terms, State Bank of India, the largest bank in the country by assets has decided to halt lending to dealers of Hyundai Motor India unless they provide a minimum of 25% collateral, according to a memo

Fintech platform Zeta secures C series investment from Sodexo; deal values company at $300 mn
Business

Fintech platform Zeta secures C series investment from Sodexo; deal values company at $300 mn

Until now, Zeta has been funded till date by $40 million by co-founders Bhavin Turakhia and Ramki Gaddipati

Kotak Mahindra Bank Q1 consolidated net profit up 23% as provisions for bad loans decline; 'will tread cautiously in FY20', says Joint MD
Business

Kotak Mahindra Bank Q1 consolidated net profit up 23% as provisions for bad loans decline; 'will tread cautiously in FY20', says Joint MD

Kotak Mahindra Bank on Monday reported a jump of 23 percent in its consolidated net profit at Rs 1,932 crore in the first quarter ended 30 June

Quarterly earnings to drive markets this week; indices may see volatility due to Fed policy meeting, monsoon, say analysts
Business

Quarterly earnings to drive markets this week; indices may see volatility due to Fed policy meeting, monsoon, say analysts

Quarterly earnings from frontline companies such as HUL, Maruti Suzuki and Kotak Mahindra Bank would set the trend for equity markets

Six of top-10 firms lose Rs 53,459 crore in market capitalisation last week; m-cap of ICICI Bank, SBI zoom
Business

Six of top-10 firms lose Rs 53,459 crore in market capitalisation last week; m-cap of ICICI Bank, SBI zoom

TCS, HDFC Bank, HUL, HDFC and ITC were some of the blue-chips that witnessed a drop in their market capitalisation (m-cap)

Reserve Bank may cut interest rate by at least 25 bps on Thursday to prop up economic growth: Experts
Business

Reserve Bank may cut interest rate by at least 25 bps on Thursday to prop up economic growth: Experts

RBI's Monetary Policy Committee (MPC) is slated to announce its bi-monthly policy on Thursday amidst Narendra Modi-led government starting its second term

Reserve Bank may cut repo rate by 25 bps; economic growth likely to moderate to 6.1%: Analysts
Business

Reserve Bank may cut repo rate by 25 bps; economic growth likely to moderate to 6.1%: Analysts

In 2019, the RBI cut repo rate by 25 basis points each in its February and April monetary policy reviews

Seven of top 10 most valued Indian firms add Rs 1.42 lakh cr in m-cap, Reliance Industries shines
Business

Seven of top 10 most valued Indian firms add Rs 1.42 lakh cr in m-cap, Reliance Industries shines

Reliance Industries' market valuation zoomed by Rs 45,069.66 crore to Rs 8,47,385.77 crore for the week ended Friday

Uday Kotak warns of more liquidity squeeze in next two quarters muddying waters for financial sector again
Business

Uday Kotak warns of more liquidity squeeze in next two quarters muddying waters for financial sector again

The next six months are crucial for the financial sector, Uday Kotak, the executive vice-chairman of Kotak Mahindra Bank said, adding the fear this time is the financial sector impacting both itself as well as the real sector.

Kotak Mahindra Bank Q4 profit rises 14% to Rs 2,038 crore; total income rises to Rs 13,823 crore
Business

Kotak Mahindra Bank Q4 profit rises 14% to Rs 2,038 crore; total income rises to Rs 13,823 crore

Kotak Mahindra Bank clocked a profit of Rs 1,789.24 crore in the same quarter of the previous financial year

Reserve Bank monetary policy meet: Economists call for at least 25 bps rate cut by central bank
Business

Reserve Bank monetary policy meet: Economists call for at least 25 bps rate cut by central bank

former Chief Economic Adviser Arvind Virmani said that it is for the RBI to understand that the real interest rate in India right now is very high

Bombay High Court asks Kotak Mahindra Bank promoters to file affidavit on RBI's equity dilution directive
Business

Bombay High Court asks Kotak Mahindra Bank promoters to file affidavit on RBI's equity dilution directive

The Bombay High Court on Monday sought an affidavit from the promoters of Kotak Mahindra Bank stating that they have complied with the RBI's directive to dilute the promoter's shareholding

Foreign shareholding limit in Kotak Mahindra Bank goes up to 45% as board of directors gives nod
Business

Foreign shareholding limit in Kotak Mahindra Bank goes up to 45% as board of directors gives nod

Uday Kotak, vice chairman and managing director of Kotak Mahindra Bank, earlier held 30.03 percent stake.

ING Group exits Kotak Mahindra Bank, sells 1.2% stake for around Rs 2,800 crore
Business

ING Group exits Kotak Mahindra Bank, sells 1.2% stake for around Rs 2,800 crore

It is estimated that the stake would have fetched Rs 2,800 crore to the global financial institution of Dutch origin.

Uday Kotak says technology majors like Google and Facebook should not be allowed to get into banking sector
Business

Uday Kotak says technology majors like Google and Facebook should not be allowed to get into banking sector

Kotak said banking is a business with a high degree of leverage involving public trust and continues to be synonymous with safety

RBI slaps penalties on 7 banks for non-compliance of norms; Rs 1.5 cr imposed on Allahabad Bank, Bank of Maharashtra, IOB
Business

RBI slaps penalties on 7 banks for non-compliance of norms; Rs 1.5 cr imposed on Allahabad Bank, Bank of Maharashtra, IOB

The Reserve Bank further said Rs 20 lakh fine each on HDFC Bank, IDBI Bank and Kotak Mahindra Bank for non-compliance with various directions on KYC norms and anti-money laundering standards.