Search Result for : Kotak Mahindra Bank

Sairaj Iyer Uday Kotak, Executive Vice Chairman and MD of Kotak Mahindra Bank, believes that the premise for rejuvenation of India’s economy (post demonetization) and the overall financial atmosphere is to replenish the confidence of the public in banks. Especially since we see receding confidence in recent times due to an uncertain global environment. But to do so there is a need to improve upon governance standards, specifically in PSU banks. At a talk show organised by the Indian Merchants Chamber, Kotak said that the PSU banking sector is an area that needs immediate attention. Referring to the rising NPAs, and infusion of tax-money into recapitalization of failing PSU banks, he said, “70% of bank accounts are with the PSUs, and I want ...

Sharath Chowdary Kotak Mahindra Bank is planning to increase its number of branches to 1400 in India by the end of this fiscal year from 1333 branches as on 31 March 2016. The bank had only 684 branches in the country at the end of FY 2015. Uday Kotak-led bank also aims at a 20 percent credit growth in FY 2017, the bank’s Senior Executive Vice President and Head - Branch Banking and Acquisition, Virat Diwanji told The Dollar Business. He said, “The corporate credit offtake was slow in the recent times. The bank has registered 14-15 percent credit growth in the previous year. As interest rates are being reduced, some green shoots are coming up in the economic growth of the country. This ...

The Dollar Business Bureau   India’s net foreign trade investment (FDI) flows are likely to surge to almost $38 billion this fiscal year. The major progress in FDI profile is a reflection of progressive policy reforms and the recent regulatory liberalisation in select sectors. According to a report of Kotak Institution Equities the net FDI flows stood at nearly $36 billion in FY 2016 when compared to $31 billion in the last fiscal. The report said that the nation’s position in FDI is estimated to further improve in 2016 with some positive signs. Recently, FDI announced by Foxconn in investment projects were valued at $5 billion in the coming 2-3 years, while GE and Alstom signed a joint venture deal worth $5.9 billion with ...

Source: PTI Within couple of hours of rate cut by the Reserve Bank, country's largest lender SBI slashed its lending rate by 0.40%, while the largest private sector lender ICICI Bank hinted at cutting its base rate by at least 0.25%. “Clearly, interest rates will come down, base rates will come down. A large part of the cut will get transmitted. When I say a large part of the thing (repo rate) will get transmitted, it should mean more than half,” ICICI Bank's managing director and chief executive Chanda Kochhar told reporters at the RBI headquarters. SBI chairman Arundhati Bhattacharya was not present at the customary post-policy press conference organised by banking industry lobby grouping IBA, but her bank announced a ...

 The Dollar Business Bureau The Central government has approved 21 Foreign Direct Investment (FDI) proposals amounting to Rs 280.70 crore. The proposals involving investment of more than Rs 3000 crore were cleared by the Foreign Investment Promotion Board (FIPB)’s, an inter-government panel, during its meeting on April 30. Among the proposals that got government’s nod included the ones from Blue Dart, Montblanc, S Oliver and Forever. "The government has approved 21 proposals of foreign direct investment (FDI) amounting to Rs 280.70 crore," a Finance Ministry statement said on Monday. The government, however, deferred 12 proposals including Kotak Mahindra Bank’s proposal for increasing the aggregate foreign investment limit in the bank to 55%. Among the 21 approved proposals, major share ...

Neha Dewan | @TheDollarBiz Steven Philip Warner, Editor-in-Chief, The Dollar Business, speaking at the FIEO Knowledge Forum. Other Panelists – Vikas Jain, President, Gurgaon Chamber of Commerce & Industry (Second from Left); Lakshmi N. Sahu, Export Credit Guarantee Corporation of India (Second from Right); and Sanchit Khanna, eBay India (Extreme right)   The Dollar Business participated in the Knowledge Forum on “Enhancing Exports” conducted by the Federation of Indian Exporters Organisation (FIEO) on September 5, 2014 in Gurgaon to highlight the role of service providers in minimising transaction cost and making exports competitive in the international business environment. Vikas Jain, President of Gurgaon Chamber of Commerce and Industry (GCCI) started the session, outlining the importance of major export categories such as engineering ...