Kotak Mahindra Bank Ltd (KOTAKBANK)

RBI Orders Kotak Mahindra Bank to Halt New Customer Onboarding - 30 Apr, 2024

The Reserve Bank of India has ordered Kotak Mahindra Bank to halt onboarding new customers through its online and mobile banking channels and refrain from issuing fresh credit cards due to serious deficiencies in how the bank manages user access, vendor risk, and data security. The bank is also set to declare its quarterly results in the upcoming week.

RBI Bars Kotak Mahindra Bank From Onboarding New Customers Via Digital Route - 29 Apr, 2024

The Reserve Bank of India has barred Kotak Mahindra Bank from onboarding new customers and issuing fresh credit cards via the digital route due to significant concerns identified during IT examinations. S&P Global Ratings warns that this could restrain the lender's credit growth and profitability.

Kotak Mahindra Files Draft Papers for Special Opportunities Fund - 28 Apr, 2024

Kotak Mahindra is among three asset management companies that have filed draft papers for the Special Opportunities Fund. Analyst Deven Choksey recommends buying Kotak Bank during market corrections.

RBI Ban Restrains Growth Trajectory of Kotak Mahindra Bank - 27 Apr, 2024

Kotak Mahindra Bank has been directed by the RBI to stop onboarding new customers and issuing fresh credit cards due to serious deficiencies. S&P Global Ratings warns that this could restrain credit growth and profitability, while Motilal Oswal Financial Services predicts adverse impacts on margins and profitability.

Kotak Mahindra Bank Shares Plunge After RBI Restrictions - 26 Apr, 2024

Kotak Mahindra Bank's market capitalisation shrinks by ₹39,322 crore in two days after RBI imposes restrictions on online customer onboarding and credit card issuance due to serious IT deficiencies. Brokerages predict limited impact on business and profitability, while S&P Global Ratings warns of potential setbacks. Uday Kotak's wealth dips by $1.3 billion.

Kotak Mahindra Bank Hit with RBI Restrictions - 25 Apr, 2024

The Reserve Bank of India has barred Kotak Mahindra Bank from onboarding new customers and issuing credit cards due to unaddressed supervisory concerns emerging from the regulator's IT examination for FY22-23.

RBI Bars Kotak Mahindra Bank From Onboarding New Customers Online - 24 Apr, 2024

Kotak Mahindra Bank has been barred by the Reserve Bank of India (RBI) from onboarding new customers through online and mobile banking channels and issuing fresh credit cards due to concerns over its IT systems. While existing customers are unaffected, industry experts predict a 5% correction in the short term and warn that the decision could negatively impact co-branded card deals.

Kotak Mahindra Bank to Launch Revamped Mobile App for Digital Banking Arm - 22 Apr, 2024

Kotak Mahindra Bank is set to launch a revamped mobile application for its digital banking arm, Kotak811, and another app offering payment services. The move comes as the bank aims to aggressively expand in the digital banking space amid competition from rivals. In Q3 FY24, 95% of personal loans disbursal, 99% of credit card sales, and 79% of new business came through the lender's digital business.

Kotak Mahindra Bank's Share Price Up 30% in Last Five Years, But Disappointing Last Year - 20 Apr, 2024

Kotak Mahindra Bank's share price has grown by 30% over the last five years, but was down 5.3% in the last year. Despite growing earnings per share at an impressive rate of 19% a year, the yearly share price gain of 5% over the same period suggests that the market is not enthusiastic about the stock.

Kotak Mahindra Bank Faces Risks of Delayed RBI Rate Cuts - 18 Apr, 2024

Upasna Bharadwaj, chief economist at Kotak Mahindra Bank, warns of potential delays to the RBI's rate cuts due to rising crude oil prices, US Fed's rate easing cycle push-back, and volatile food inflation.

Kotak Mahindra Bank Expects Boost in Liquidity with Sovereign Bond Inclusion - 16 Apr, 2024

Kotak Mahindra Bank anticipates that the addition of India's sovereign bonds to JPMorgan Chase & Co.'s global indexes from June will improve its liquidity. Meanwhile, ICICI Lombard has made investments in Kotak Mahindra Bank and SRF.

Kotak Mahindra Bank Faces Technical Issues Impacting Services - 15 Apr, 2024

Kotak Mahindra Bank faced technical issues with its core server down since morning, impacting many services including ATM withdrawals and online transactions. Customers were also unable to use the mobile app, leading to complaints on social media. The bank assured that its technical team was working on resolving the issue urgently.

JPMorgan Chase's 6.5% fall results in Kotak Mahindra Bank losing nearly ₹3 lakh crore - 13 Apr, 2024

Shares of JPMorgan Chase fell 6.5%, causing the lender to shed over $36 billion, which is almost equal to the entire market capitalisation of Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank Founder Warns of Global Turbulence - 11 Apr, 2024

Uday Kotak, founder and non-executive director at Kotak Mahindra Bank, warns investors to brace for potential global turbulence ahead as the US inflation print has come higher than expected which could delay the US Fed rate cuts. He believes that higher US inflation and Brent crude oil prices will keep interest rates higher globally, including in India.

Kotak Mahindra Bank Stock Up on BSE Sensex Trading; Former Executive Joins Bandhan Bank - 10 Apr, 2024

Kotak Mahindra Bank's stock rises by more than 1% as BSE Sensex trades at 74,901 points. Meanwhile, former national head for credit (mid markets) and founding member of Kotak Bank corporate banking group, Kumar, joins Bandhan Bank.

Price Targets Suggest Upside Potential for Kotak Mahindra Bank - 09 Apr, 2024

Private lenders, including Kotak Mahindra Bank, are set to report their March quarter results soon. Despite downgrades to FY25 earnings estimates post December quarter results, price targets suggest 10-25% upside potential ahead. Kotak Mahindra Bank's target of Rs 2,073 suggests a 16% upside potential. Emkay Global prefers Kotak Mahindra Bank given its undemanding valuations and management stability.

Kotak Mahindra Bank's Asset Management Arm Raises Funds for Equity Investments - 08 Apr, 2024

Kotak Mahindra Bank's asset management arm, Kotak Alternate Asset Managers, raised Rs 2,000 crore for its Iconic Fund to help investors build and maintain equity portfolios across market cycles. The fund aims to bring efficiency and operational ease to investors' equity journey while dynamically handling strategy selection, allocation, and performance monitoring. Analysts suggest HDFC Bank, Kotak Mahindra Bank, ICICI Bank, and IndusInd Bank as breakout stocks in the Bank Nifty index.

Uday Kotak Encourages Sustainable Development and Entrepreneurship - 06 Apr, 2024

Kotak Mahindra Bank founder, Uday Kotak, spoke about the importance of sustainable development and entrepreneurship. He also expressed his wish for India to become a top-three economy in the next five years with an economy surpassing $30 trillion by 2047.

Kotak Mahindra MD: India's Stable Government Translates into Growth - 04 Apr, 2024

Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Co Ltd, stated that India is the only democratic country showing growth due to its stable government and defining reforms. He also mentioned that the last decade has been characterised by a stable, majority government.

Kotak Mahindra Bank Attracts Global Talent to Supplement Core Knowledge - 03 Apr, 2024

Kotak Mahindra Bank has been adding outside and global talent in technology, customer experience, branding and marketing, risk analytics and data, and even a new CHRO. The bank was recognised as the Best Bank in the Talent and Workforce category in the BT-KPMG Best Banks and NBFCs Survey 2022-23.