Kotak Mahindra Bank Limited (KOTAKBANK.BO)

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2,039.20

-93.75

(-4.40%)

At close: 3:29:54 PM GMT+5:30

India's RBI lifts ban on Kotak issuing credit cards, enrolling clients digitally

MUMBAI/BENGALURU (Reuters) -The Reserve Bank of India said on Wednesday that it had lifted its 10-month-old order barring Kotak Mahindra Bank from onboarding new clients digitally and issuing fresh credit cards due to gaps in its IT infrastructure. This is the latest example of India's central bank easing restrictions on lenders and non-banking financial companies - initially imposed to tighten risk controls and protect consumer interests - after the institutions improved compliance. For Kotak to be able to issue new credit cards is pivotal because the unsecured loan segment is a high-yielding one and the RBI's move could help the bank in terms of fee income as well as net interest income, said Vinit Bolinjkar, head of research at Ventura Securities.

Reuters last month

KOTAKBANK.BO
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Kotak Mahindra acquires personal loan portfolio from Standard Chartered

The final acquisition value is Rs33.3bn, down from the initially indicated Rs41bn.

Retail Banker International 2 months ago

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SCBFF
Kotak Mahindra Bank Ltd (BOM:500247) Q3 2025 Earnings Call Highlights: Strong Profit Growth ...

Kotak Mahindra Bank Ltd (BOM:500247) reports a 10% increase in consolidated profit, with robust capital adequacy and asset growth despite facing credit strain in microfinance.

GuruFocus.com 2 months ago

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India's Kotak Mahindra Bank Q3 profit rises 10% on higher lending income

India's Kotak Mahindra Bank on Saturday reported a 10% rise in quarterly profit as it boosted lending, although provisions for potential bad loans surged. The Mumbai-based private lender's standalone net profit - which excludes earnings from its subsidiaries - rose to 33.05 billion rupees ($382 million) in the three months to end-December, in line with an LSEG consensus estimate. Its net interest income, the difference between what a bank earns on loans and pays out on deposits, rose 10% to 71.96 billion rupees.

Reuters 2 months ago

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India's Kotak Mahindra Bank's Milind Nagnur steps down as COO, CTO

He served as managing director at Citigroup for over a decade until 2018 and worked as CTO at the U.S.-based fintech firm Early Warning, before joining Kotak, according to his LinkedIn profile. During his tenure in April, the Reserve Bank of India (RBI) had imposed restrictions on the bank, which are still in force, from adding clients through its online and mobile banking channels, and from issuing credit cards, due to gaps in its IT infrastructure. The RBI said it took action after its examination of Kotak's IT systems in 2022 and 2023 raised concerns that Kotak failed to address adequately.

Reuters 3 months ago

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India's Kotak Mahindra Bank, RBL Bank slump as loan stress hurts Q2 earnings

Shares of India's Kotak Mahindra Bank and RBL Bank slumped on Monday as the lenders reported a jump in bad loans that hurt their second-quarter profit and margins, a trend that could continue for a few more quarters. Kotak's shares slid as much as 6% to a near two-month low in early trade, while those of RBL tumbled 14% to their lowest since June 2023. Kotak's slippages, or the proportion of good loans turning bad, jumped 38% on-quarter for the July-September period, while mid-sized lender RBL's slippages were 10.26 billion rupees, almost doubling from a year ago and up nearly 43% from the prior quarter.

Reuters 5 months ago

RBLBANK.NS

KOTAKBANK.BO
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Kotak Mahindra Bank Ltd (BOM:500247) Q2 2025 Earnings Call Highlights: Strong Profit Growth ...

Kotak Mahindra Bank Ltd (BOM:500247) reports a 13% YoY increase in group profit, while navigating margin pressures and regulatory challenges.

GuruFocus.com 5 months ago

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StanChart sells India personal loan business to Kotak Mahindra Bank

StanChart's personal loan book had an outstanding of 41 billion rupees ($488 million) as of Sept. 30, Kotak Mahindra Bank said. India's personal loan market has become intensely competitive amid strong consumer demand.

Reuters 5 months ago

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SCBFF
India's top private lenders see farm loan defaults rising amid weak rural economy

Top Indian private lenders are seeing more farmers and rural borrowers delay loan repayments as unpredictable weather impacts output and rising agricultural costs stretch their incomes further, according to quarterly earnings reports and a dozen bankers. The largest five private banks have reported greater bad loan additions in the June quarter, mostly driven by rising dues in agriculture and microfinance loans, which are popular in rural areas. Microfinance loan disbursal slowed in April-June due to general elections and heatwaves, Sumant Kathpalia, chief executive officer of IndusInd Bank said last week, adding that rural areas were still recovering from impact of the pandemic.

Reuters 8 months ago

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Kotak Mahindra says Hindenburg was not an investor in its fund

Kotak Mahindra International Limited said on Tuesday that U.S. short-seller Hindenburg Research has never been an investor in the K-India Opportunities Fund. Kotak was responding to allegations that Hindenburg colluded with its client Kingdon Capital Management and used a Kotak group offshore fund to short Adani group shares last year. "The Fund was never aware that Hindenburg was a partner of any of its investors," Kotak said in a media statement.

Reuters 9 months ago

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New Indian govt won't increase borrowing in July budget, says Kotak Mahindra Bank

A weaker majority for the Prime Minister Narendra Modi-led alliance may increase welfare spending but not result in additional borrowing, limiting a rise in bond yields, a top executive at India's Kotak Mahindra Bank said. Modi's Bharatiya Janata Party failed to get an outright majority in the recently concluded parliamentary elections, making them dependent on support from regional parties to form a government. That raised concerns that the new government will take populist measures, which will increase spending and could, in turn, see additional borrowing pressure.

Reuters 9 months ago

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Indian banks to step up IT spends as regulatory scrutiny rises

Indian banks' plan to increase their technology spending to around 10% of their operating expenses to keep up with the surge in digital transactions as the central bank intensifies scrutiny on frequent outages, more than half a dozen bankers said. Banks were earlier spending between 6%-8% of total operating expenditure on technology, sharply below the global average of 10%-12%. However, increased scrutiny of banks' IT systems by the Reserve Bank of India (RBI) over the past year and the recent sanctions imposed on Kotak Mahindra Bank due to technology-related deficiencies are forcing lenders to take the regulator's concerns more seriously.

Reuters 10 months ago

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Kotak Mahindra Bank joint managing director resigns

A joint managing director of Kotak Mahindra has stepped down from his post with immediate effect.

Private Banker International 11 months ago

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30 Wealthiest People in India

In this article, we will look into the 30 wealthiest people in India. If you want to skip our detailed analysis of the Indian economy, you can go directly to the 5 Wealthiest People in India. An Outlook of the Indian Economy According to the Indian Economic Outlook April 2024 report by Deloitte, the country’s […]

Insider Monkey 11 months ago

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HCLTECH.NS

RELIANCE.NS
Indian bank Kotak Mahindra's shares dive after new digital client ban

MUMBAI (Reuters) -Kotak Mahindra Bank's shares fell by nearly 11% on Thursday, a day after India's central bank barred the lender that relies heavily on online banking from taking on new digital clients and issuing credit cards. The Reserve Bank of India acted after the tech systems at Kotak, India's fourth biggest private bank, failed to manage a surge in transactions. Shares in Kotak fell by as much as 13% to their lowest since November 2020, before paring losses slightly in late trade.

Reuters 11 months ago

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Performance Overview

Return	KOTAKBANK.BO	S&P BSE SENSEX (^BSESN)
YTD	+14.16%	-6.40%
1-Year	+14.35%	-1.50%
3-Year	+15.73%	+23.89%

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Kotak Mahindra Bank Limited (KOTAKBANK.BO)

India's RBI lifts ban on Kotak issuing credit cards, enrolling clients digitally

Kotak Mahindra acquires personal loan portfolio from Standard Chartered

Kotak Mahindra Bank Ltd (BOM:500247) Q3 2025 Earnings Call Highlights: Strong Profit Growth ...

India's Kotak Mahindra Bank Q3 profit rises 10% on higher lending income

India's Kotak Mahindra Bank's Milind Nagnur steps down as COO, CTO

India's Kotak Mahindra Bank, RBL Bank slump as loan stress hurts Q2 earnings

Kotak Mahindra Bank Ltd (BOM:500247) Q2 2025 Earnings Call Highlights: Strong Profit Growth ...

StanChart sells India personal loan business to Kotak Mahindra Bank

India's top private lenders see farm loan defaults rising amid weak rural economy

Kotak Mahindra says Hindenburg was not an investor in its fund

New Indian govt won't increase borrowing in July budget, says Kotak Mahindra Bank

Indian banks to step up IT spends as regulatory scrutiny rises

Kotak Mahindra Bank joint managing director resigns

30 Wealthiest People in India

Indian bank Kotak Mahindra's shares dive after new digital client ban

Performance Overview