Kotak Mahindra Bank launches “Kotak Now Banking” at Andheri Metro Station

by Shrutee K/DNS

Mumbai: Andheri Metro Station has become Mumbai’s first metro station to get ane-lobby. Kotak Mahindra Bank (KMB) has launched Kotak Now Banking, offering digital banking experience to residents of Mumbai. Shanti Ekambaram, President – Consumer Banking, Kotak Mahindra Bank inaugurated the e-Lobby.

The e-lobby comprises a host ofself service capabilities such as ATM, Banking Kiosk, Tablets, Surface Table, etc.which can be used by both customers and non-customers.Asimilar e-lobby will be launched at Versova metro station soon. Shanti Ekambaram, President - Consumer Banking, Kotak Mahindra Bank said, “Mumbai Metro has made travel across the central and western suburbs convenient for residents. Considering their banking and financial needs at these commute points, we had exclusively set up ATMs across all metro stations. We are enhancing this with the launch of Kotak Now Banking, which will provide a host of banking services to Mumbaikars.” KMB has exclusively set up 26 ATMs across all stations of Mumbai Metro One.

About Kotak Mahindra Bank

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

Effective April 1, 2015, ING Vysya Bank Ltd has merged with Kotak Mahindra Bank Ltd creating a Rs 2 trillion institution (consolidated). As on December 31, 2015, the merged entity – Kotak Mahindra Bank Ltd, has a significant national footprint of 1,298 branches and 1,987 ATMs spread across 653 locations, affording it the capacity and means to serve even better.

The Bank has three Strategic Business Units catering to retail and corporate customers across urban and rural India.

The Consumer Banking business offers complete retail financial solutions including a variety of savings and loan products and innovative digital solutions - Jifi, a first-of-its-kind fully integrated Social Bank Account, redefines digital banking by seamlessly incorporating social networking platforms like Twitter and Facebook with mainstream banking. KayPay is the world’s first bank agnostic instant funds transfer platform using Facebook. On the savings bank account front, the Bank offers higher interest rate at 6% p.a. for balances above Rs. 1 lakh, and provides a

comprehensive suite of investment services and transactional conveniences. The Bank’s Wealth Management business is one of India’s largest and provides customized financial solutions to high

net worth families.

The Corporate Banking business offers a comprehensive portfolio of products and services  – working capital financing, medium term finance, current account, trade services, cash management services, export credit, transaction banking, custody services, debt capital markets, forex and treasury services. The Commercial Banking business offers a comprehensive portfolio of banking products and services to Small and Medium enterprises (SME) engaged in manufacturing, trading, services and export businesses. It has specialised units, which provide finance to Agri Sector, Commercial Vehicle operators and Infrastructure business. It services farmers across India by providing term loans to purchase tractors. The Bank also offers small ticket Gold loans and business loans.

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