RBI bans Kotak Mahindra Bank from on boarding new online customers
However, the RBI (Reserve Bank of India) said the bank shall continue to provide services to its existing customers, including its credit card customers.
However, the RBI (Reserve Bank of India) said the bank shall continue to provide services to its existing customers, including its credit card customers.
On a standalone basis, the net profit for the reporting period was up 7.62% to Rs 3,005 crore, attributed to a sharp rise in provisions.
Kotak Mahindra Bank on Saturday said it closed the second quarter of FY24 with higher net profit of Rs 3,190.97 crore.
A surprising incident at Sri Varaha Lakshmi Narasimha Temple in Simhachalam, Andhra Pradesh’s Visakhapatnam, has been making waves online. A…
Now customers with the bank can be instantly updated their correspondence address on net banking through DigiLocker.
On a consolidated basis, the bank said the net profit rose by 22.4 per cent to Rs 2,946.62 crore during Q2FY21 as against Rs 2,407.25 crore a year ago.
The stock fell 2.03 per cent to Rs 1,322.45 per share on the BSE and on the NSE it 2 per cent lower at Rs 1,322.50.
The bank had posted a net profit of Rs 1,360.20 crore in the year-ago period.
Uday Kotak is one of the few longest-serving CEOs in the private sector banking space, helming Kotak Mahindra Bank since 2003.
T V Narendran, CEO and MD of Tata Steel, has been appointed as the President-Designate of CII for 2020-21.