27-09-2012, 11:11 AM
Alliances of Kotak Mahindra debit card customer
KOTAK TRAINING.doc (Size: 418 KB / Downloads: 33)
INTRODUCTION
Established in 1985, the Kotak Mahindra group has been one of India's reputed financial organizations. It was previously known as the Kotak Mahindra Finance Limited, a non-banking financial organization.
In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI). This approval created banking history since Kotak Mahindra Finance Ltd. is the first non-banking finance company in India to convert itself in to a bank as Kotak Mahindra Bank Ltd. The bank has a base of 8000+ employees.
Within a small span of 6 years, the bank has spread it wings in several sphere of finances. Presently, spread in 82 cities in India, the bank caters to the needs of its 5.9 million customers spread throughout the length and breadth of country and even abroad.
Kotak Mahindra Bank has over 217 branches spread across 126 locations in the country offering both traditional banking products and investment advisory services. The Bank has the products, the experience, the infrastructure and most importantly the commitment to deliver pragmatic, end to- end solutions that really work.
The Bank offers comprehensive business solutions that include Trade Services, Cash Management Service and Credit facilities, keeping in mind the needs of the business community.
Corporate identity:
The symbol of the infinite Ka reflects our global Indian personality. The Ka is uniquely Indian while its curve forms the infinity sign which is universal. One of the basis tenets of economics is that man’s needs are unlimited. The infinite Ka symbolizes that we have infinite number of way’s to meet those needs.
The composition of the Board of Directors of the Bank is governed by the Banking Regulation Act, 1949 and Clause 49 of the Listing Agreement. The Board of Directors comprises a combination of executive and non-executive Directors.
The Board mix provides a combination of professionalism, knowledge and experience required in the banking industry. The responsibility of the Board inter alia includes formulation of policies, taking new initiatives, performance review, monitoring of plans, pursuing of policies and procedures.
Ranks 1st amongst the BFSI segment, second time in a row-
Kotak Mahindra Bank, one of India’s leading private banks has bagged the Hewitt Best Employer’s in India award for the second time in a row. The Award was received by Mr. Subhro Bhaduri Executive Vice President-HR, Kotak Mahindra Bank.
The Hewitt Best Employer awardees have been selected by an independent jury comprising of eminent members from the Industry and academic world. The 2009 study also introduced new research initiatives to evaluate how new dimensions such as personal values, CSR, and workplace diversity impact human capital management for business growth and witnessed participation from over 230 organizations. The views of over 800,000 employees have been represented by over 46,000 employees across India, making this one of the largest employee research studies conducted in the country.
FUTURE OUTLOOK
Your Bank expects to expand its banking activities over the next one year by setting up additional branches in major cities around the country. With the expansion of the branch network, your Bank expects to broad base the product offering with a view to deepening relationships with customers.
The commercial vehicle market has seen a robust growth over the past few months and your Bank expects to increase its market share in the financing business. With the development of the national highway projects, an increase is also expected in the construction equipment financing business.
Your Bank proposes to expand its geographical reach in the personal loans business. It has now put in place the requisite infrastructure, systems and processes for financing housing loans and this business is expected to grow during the current year.
Your Bank is in the process of setting up a comprehensive cash management system offering customer services in the collections and payments area. It expects to play a more active role in financing small and medium enterprises, largely through capturing supply chain businesses.
The key challenge over the next year would be to establish the required branch banking infrastructure and leverage on the large existing customer base to develop a robust retail banking base.
Kotak Mahindra Bank Limited has informed that the Bank's equity shares will be delisted from The Stock Exchange, Ahmedabad with effect from January 20, 2004.
ACE ACCOUNT
Ace Deposit is a unique product from Kotak Mahindra Bank Limited. It combines the prospective of lucrative returns from an equity fund along with the stability and safety of a Fixed Deposit. Here the monthly interest accruing to one's term deposit is channelized for investment in mutual funds as per a systematic investment plan. The safety of the principal amount on the fixed deposit is guaranteed. The interest income becomes linked to the prospect of market-linked returns.
CAR LOANS
Kotak Mahindra Bank Limited Car Loans come from Kotak Mahindra Prime Limited a subsidiary unit of Kotak Mahindra Bank Ltd. The company provides finance options for and multi-utility vehicles including cars. Kotak Mahindra Prime Limited provides car dealers with inventory funding. It is also the preferred financier of a number of car manufactures in the country.
SAVINGS ACCOUNT
It provides quick & convenient banking transactions along with options for your money to earn high returns. The savings account goes beyond the traditional role of savings, to provide you a range of services from funds transfer options to online payments of bills to attractive returns earned through a comprehensive suite of investment options.
Features & Benefits:
1. Free access at all domestic and international VISA ATMs You no longer have to worry about locating your Bank or Partner Bank ATM - Use the first VISA ATM that you spot, for free cash withdrawal or balance enquiry transactions. So walk into any VISA ATM in India or abroad to withdraw cash or for balance enquiry.
2. Multiple access channels Access your account anytime through your land line, mobile phone or internet to get information on your account balance or track your transactions. You can even transfer funds through Phone Banking or Net Banking.
3. Financial payments facilitated through the savings account Use the free Kotak Payment Gateway to make online payments for your utility bills, credit cards, online trading of shares or even online shopping. All this at the click of a mouse!
4. Quick and easy funds transfer funds easily and with speed, to a beneficiary account at another bank. You can avail of this facility by walking into any of our branches or by simple logging on to Net Banking. You also get a free multi-city cheque book so that money from your account is transferred to the beneficiary's account at any of our branch locations, in the fastest possible time.
5. Free banking transactions you can issue demand drafts or send cheques for collection anywhere in the country for no extra charge.
6. ActivMoney Earn better returns in your savings account, with our ActivMoney facility that automatically sweeps out idle funds, above a threshold, from your account into Term Deposits. These Term Deposits sweep back into your account to meet fund requirements when your withdrawals exceed the balance available in your account, thereby providing you maximum liquidity.
CONCEPT OF PROJECT
My summer project topic is “Alliances of Kotak Mahindra debit card customer”. This topic is assigned to three students. In this project we get the target of 30 potential retail shops and we have to convince the retailers to give 10%discount to customers on Kotak debit card and in return name of the retail shop and Kotak will be attached and displayed in all banks and ATMs of Kotak Mahindra bank through candies, leaflets and pamphlets. The most interesting part of this topic is that this project will be implemented by the bank.
TIE-UP With Indian airlines
Kotak Mahindra Bank is proud to announce the launch of its Payment Gateway tie up with Indian Airlines. Indian Airlines, one of the largest airlines in the country, covers more than 75 destinations within and outside India. With its fully owned subsidiary Alliance Air, Indian Airlines has a fleet of more than 70 aircrafts. Indian Airlines has enabled e-Ticketing on its website www.indian-airlines.in in addition to issuance of tickets across the counter.
Our tie up with Indian Airlines enables the customers of Kotak Mahindra Bank to pay for tickets booked on Indian Airlines website using Kotak Mahindra Bank Net Banking user ID and password. Kotak Mahindra Bank is the first private sector bank to launch this service on Indian Airlines website. The service is available free of cost to all customers registered for Kotak Bank Payment Gateway service.
Payment Gateway access not only enables purchase on Indian Airlines website but also enables a customer to transfer money to Kotak Securities account, make purchases on more than 3000 merchants websites, pay VISA credit card bills online, transfer money online to any VISA debit card within the country, pay utility bills, make donations and pay for subscriptions online across more than 60 billions.