Kotak Mahindra Bank revises Base Rate downwards by 10bps

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by Shrutee K/DNS

Mumbai, October 6, 2016: Kotak Mahindra Bank has revised its Base Rate downward by 10bps to 9.40% p.a. with effect from October 7, 2016.

All categories of loans (other than the exceptions permitted by RBI) will be priced with reference to the revised Base Rate.

About Kotak Mahindra Bank Limited

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd., the Group's flagship company, received banking license from the Reserve Bank of India, becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd.

Effective April 1, 2015, ING Vysya Bank Ltd. merged with Kotak Mahindra Bank Ltd. As on June 30, 2016, Kotak Mahindra Bank Ltd. has a national footprint of 1,333 branches and 2,034 ATMs spread across 674 locations.

The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking and Treasury, which cater to retail and corporate customers across urban and rural India.

For more information, please visit the company’s website at http://www.kotak.com/


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