Kotak bank launches mobile banking app named as ‘Kotak Bharat’ for ‘un-banked’ regions [ Current Affairs ]
About Kotak Mahindra bank: Kotak Mahindra Bank is the fourth largest private sector bank of India. The bank’s headquarter is located at 27BKC (Bandra Kurla Complex), Bandra East, Mumbai, Maharashtra, India.
- Kotak Mahindra Finance Ltd was the group’s flagship company.
- Reserve Bank of India (RBI) gave the license to carry on banking business in February 2003.
- Kotak Mahindra Finance Ltd. is the first company in the Indian banking history which can convert its business to a bank.
About awards of KMB:
- It had won ‘Gold Award for Best Innovation of World’s first socially powered bank account’ and ‘Gold Award for Best App developed World’s first banking application using Twitter’ awards at the Indian Digital Media Awards 2014.
- Kotak Mahindra Bank was ranked 292nd among India’s most trusted brands according to the Brand Trust Report 2012, a study conducted by Trust Research Advisory.
- In the Brand Trust Report 2013, Kotak Mahindra Bank was ranked 861st among India’s most trusted brands and subsequently,
- According to the Brand Trust Report 2014, Kotak Mahindra Bank was ranked 114th among India’s most trusted brands.
- Won National Securities Depository Ltd. (NSDL) award in the Best Performer in category of account Growth Rate 2013, for Demat Accounts.
About launching of mobile app:
- Kotak Mahindra Bank (KMB) launched a mobile banking app ‘Kotak Bharat’.
- Its aim is to provide mobile banking services to customers in the distant regions of India.
About the app:
- This is an Android-based app which is specially designed to provide banking service to customers in banked and un-banked regions.
- It also gives the facility to use service in their chosen language.
- In the beginning, the service will be provided in only Hindi and English languages.
- But it would also be available in Marathi, Gujarati, Tamil and Kannada in few months.
- By using this app customers can manage their savings/current accounts and credit cards.
- It will be launch first in Lucknow and the service will be spread in other state in few months.
- The customers could download the app on their registered mobile number and can make registration by following the process.
- By using this app, customer can use the features like recharging mobile/DTH services, finding Kotak ATMs & branches, linking Aadhaar number to the account.
- Published on: August 3, 2015