Headquartered in Mumbai, Maharashtra, Kotak Mahindra Bank is among India’s leading private-sector banks. The bank initially started off as a non-banking financial company (NBFC) and eventually turned into one of the country’s largest private lenders. The history of Kotak Mahindra Bank can be traced back to 1985 when prominent Indian businessman Uday Kotak established and promoted an NBFC called Kotak Mahindra Finance Ltd. (KMFL). Initially, the NBFC focused on providing customers with services related to leasing and hire-purchasing. The NBFC was known for providing financing to new automobile buyers in the late 1980s. 1990 was a significant year for the NBFC as it issued its Initial Public Offer. The NBFC would also launch a new auto finance division in the same year. The following year, KMFL ventured into investment banking. In 1995, KMFL and US-firm Goldman Sachs Group came together and established a Joint Venture (JV) called Kotak Mahindra Capital Company Limited. In the following year, KMFL set up another JV namely Mahindra Primus, this time with Ford Credit. This JV was set up for car financing. Through its newly established subsidiary Kotak Mahindra Asset Management Company (KMAMC), KMFL launched India’s very first gilt fund in December 1998. 2003 was another important year for the company as it rebranded and changed its name to what it is currently known as, Kotak Mahindra Bank. In 2003, Kotak Mahindra Bank was among the very first NBFCs to get a banking license from the Reserve Bank of India. Kotak Mahindra Bank ventured into the insurance business after its subsidiary Kotak Mahindra General Insurance received the nod from the Insurance Regulatory and Development Authority of India (IRDAI) and started operations in 2015. Kotak Mahindra Bank and Indian telecommunications giant Bharti Airtel partnered in 2016 to launch a JV known as Airtel Payments Bank. This JV lasted only for five years as in 2021 Kotak Mahindra Bank sold its stake in Airtel Payments Bank to Bharti Airtel. As of March 2022, Kotak Mahindra Bank operated a large banking network with 1,700 branches and over 2,700 ATMs. 

Products and services 

Kotak Mahindra Bank is known for being a leading provider of banking services such as saving accounts, current accounts, debit cards, credit cards and much more. The bank also offers various types of loans to customers. The bank is also a provider of multiple insurance products. These insurance products offer comprehensive coverage to customers and help them safeguard their financial future. Kotak Mahindra Bank also provides several investment products. These include mutual funds, fixed deposits, demat accounts, among others. 

Listing 

Shares of Kotak Mahindra Bank are listed on a number of Indian stock exchanges like BSE, NSE, Calcutta Stock Exchange, Delhi Stock Exchange etc. Kotak Mahindra Bank is a part of multiple indices like Nifty 50, Nifty 500, S&P BSE Sensex etc.