Kotak Mahindra Bank : Overview
Kotak Mahindra Bank Limited, previously known as Kotak Mahindra Finance Limited, is an Indian private bank and financial services company founded in 1985 and headquartered at Mumbai, Maharashtra. Kotak Mahindra Bank offers highly acclaimed personal finance solutions of all types like savings account, credit cards, loans, insurance and many more. Kotak Mahindra Finance Limited was initially a non-banking financial firm, which converted into a Bank in February 2003 with a license by the Reserve Bank of India (RBI), becoming the first company in the Indian banking history to transform to a financial institution or a bank. The bank offers transaction banking, manages IPOs, provides working capital loans and operates lending verticals.
Kotak Mahindra Prime Limited (KMPL) is the sister concern of Kotak Mahindra Bank, that finances all forms of passenger vehicles including cars, pre-owned cars and multi utility vehicles. KMPL is one of India’s most prominent car finance companies, funding and supporting automotive dealers, retail customers and manufacturers. KMPL has, over the years associated with various car manufacturers in India such as Honda, General Motors, Hyundai, Toyota, Maruti, Volkswagen, Skoda, Ford, Audi, Nissan, Renault etc., helping loan borrowers with buying their cars as well.