Mobile banking app by Kotak Mahindra bank
Q. Name the mobile banking app of Kotak Mahindra Bank (KMB) launched primarily for “un-banked” regions?- Published on 13 Feb 17
a. Kotak Bharat
c. Kotak India
ANSWER: Kotak Bharat
It is the ‘inclusive digital banking’ app launched by KMB that is primarily targeted to benefit customers in the under-banked and un-banked regions, who can access its services in their preferred language. One major benefit of this app is that it requires no internet connectivity.
Kotak Mahindra Bank
Kotak Mahindra Bank is an Indian private sector banking headquartered in Mumbai, Maharashtra, India.
In February 2003, Reserve Bank of India (RBI) gave the license to Kotak Mahindra Finance Ltd., the group's flagship company, to carry on banking business.
In 2016, it was the third largest private bank in India by market capitalization.
In 2014, Kotak Bank acquired ING Vysya Bank for a deal valued at ?15,000 crores (US$2.2 billion).
Post the merger, ING Group which controlled ING Vysya Bank will own 7% share in Kotak Mahindra Bank.
KMB - Kotak Mahindra Bank
Founded - 1985 (as Kotak Mahindra Finance Ltd)
Headquarter - Mumbai, Maharashtra
Current Head - Uday Kotak (Founder & Executive Vice Chairman & MD)