Kotak Mahindra India

Kotak Mahindra Group in India has market share of 2.2%. It has ability to enter in the adjacent market, which will help it to grow further in financial sector of India. Kotak Mahindra is a financial firm in India fulfilling the financial need of the public. Kotak Mahindra Group came into being in 1985 as Kotak Capital Management Finance Limited and the name changed to Kotak Mahindra Finance ltd. in 1986 when Harish Mahindra and Anand Mahindra took it. From Bill discounting activity in 1986 it had entered into the Lease and Hire Purchase Market in 1987. The Auto Finance division was started in 1990. In the year 1998 Kotak Mahindra ventures into mutual Fund Market with the launch of Kotak Mahindra Asset Management Company. It got tied up with Old Mutual plc. and the Life Insurance Business in the year 2000. Year 2003 saw the conversion of Kotak Mahindra Finance Ltd. into a Commercial Bank. It is the first Indian Company to do so. In 2004 it launched a private equity fund named India Growth Fund. Like all other years the 2006 was also very fruitful for this group as it bought 25% stake held by Golden Sachs in Kotak Mahindra Capital Company and Kotak Securities.

The services offered by Kotak Group are:

• Bank

• Life Insurance

• Mutual Funds

• Securities

• Car Finance

• Kotak Reality Fund

• Kotak Private Equity

• Institutional Equities

• Investment Banking

• Kotak Mahindra International

• Commercial banking

• Stock Broking

• Financial need of individuals and corporate are taken care by Kotak Mahindra Bank

For every service offered by them they have separate website that really help the customer to get what he is looking for. This group even provides the facility of net banking. Kotak Mahindra Bank got tied up with India Airlines to provide people with the facility of buying air ticket of this airline online. This is first of its kind in the private sector banks to provide this facility. The online access to buy ticket also enables the user to transfer money to Kotak Securities account. With this customer can make purchases on more than 3000 merchant websites. The bank had 90 branches by the end of Dec 2006 across 59 towns and cities in India and estimated to increase the number to 110. The Asset Triple, A Country Awards awarded Kotak Mahindra Bank with the best status in Domestic Investment Bank and the Best Equity House. Kotak Securities on the other hand has branches in almost 815 cities in India. There has been seen an increase of 76% in the income of Kotak Life Insurance (KLI). Kotak Mahindra Old Mutual Life Insurance, which provides the facility of life insurance has 160 years of experience in this field. It has launched the Home Banking Service that is available in all the urban and metro branches in India for which the announcement was made on July 17, 2007. Kotak Mahindra Finance Ltd. got the license from the Reserve Bank of India to do work in banking business in February 2003. Kotak Mahindra provides many plans like money Back Plan, Child Advantage Plan, Kotak Retirement Income Plan, Kotak Safe Investment Plan II. But the recent among these are

• Kotak External Life Plan

• Kotak Platinum Advantage Plan

• Kotak Headstart Child Plan

• Kotak Sukhi Jeevan Plan

The complete information on the plans and other services offered by Kotak can be taken from their website http://insurance.kotak.com/omkm3/index.htm

Registered Office Head Address
Kotak Mahindra Old Mutual Life Insurance Ltd.
9th floor, Godrej Coliseum
Behind Everard Nagar,
Sion (E), Mumbai - 400 022