Kotak Bank Madhya Pradesh IFSC code, MICR code, Address
Kotak Bank branch details in Madhya Pradesh
Last Updated 23rd Mar 2017
Kotak Bank has 16 branches in Madhya Pradesh spread over 12 districts of Anooppur, Ashoknagar, Balaghat, Barwani, Betul, Bhind, Bhopal, Burhanpur, Chhattarpur, Chhindwara, Damoh, Datia, Dewas, Dhar, Dindori, Guna, Gwalior, Harda, Hoshangabad, Indore, Jabalpur, Jhabua, Katni, Khandwa, Khargone, Mandla, Mandsaur, Morena, Narsinghpur, Neemuch, Panna, Raisen, Rajgarh, Ratlam, Rewa, Sagar, Satna, Sehore, Seoni, Shahdol, Shajapur, Sheopur, Shivpuri, Sidhi, Singrauli, Tikamgarh, Ujjain, Umaria, Vidisha, West Nimar.
Dindori district, with 4 branches has the largest number of Kotak Bank branches in Madhya Pradesh followed by Hoshangabad district with 2 branches and Dhar district with 1.
District wise distribution of Kotak Bank branches in Madhya Pradesh is as below. To find branch address, phone, IFSC code, MICR code of the branch that you are looking for, click on the district where the branch is located.
Chairman of Banks Board Bureau wrote a letter to Finance Minister and Prime Minister of India seeking an action plan to control the increasing quantum of bad loans of the banks. Many state run and private banks including Kotak Mahindra Bank have reported an increase in the quantum of bad loans. As per the report, bad loans of state run banks rose by over Rs. 1 lakh crore at Rs. 6 lakh in December, 2016 on year on year basis.BBB in its letter has asked the ministry to penalise the banks who are held accountable for delaying the process of resolving or managing bad loans.
As per banking experts, banks have turned out to be active players in micro loan business during last five years. As per the data, out of total loan portfolio of the major banks of Rs. 98,625 crore, 37 percent (Rs. 36,683 crore) is accounted for micro loans. Eleven banks account for majority of micro loans portfolio. Some of the prominent banks in microfinance are HDFC, ICICI, Yes Bank, RBL, Equitas, Kotak Mahindra Bank, IDFC, Axis, Bandhan and DCB Bank.
Kotak Mahindra Asset Management Company has launched a digital platform named Go Digital. The digital platform will enable the distributors to build their own website or mobile application. With the help of digital platform, Kotak Mutual fund investors can access their portfolios, view scheme details and check for documents required for investment.
Chief of Kotak Mahindra Bank has sold 1.5 percent of his personal stake in Kotak Bank to two Canadian Pension Fund managers for Rs. 2,255 crore via open market transaction. The 2.76 crore shares were sold at Rs. 817 per share. Under the sale, 1.84 crore share of the bank were purchased by CPDQ fund and the remaining shares were taken by Canada Pension Plan Investment Board. As per sources, the move will help the bank to comply with RBI directive on promoter shareholding that should stand at 30 percent.
Kotak Mahindra Bank is in talks with Canadian Pension Fund manager, Caisse de Depot et Placement du Quebec (CPDQ) to sell its 3 percent stake. As per Bloomberg data, market value of the 3 percent stake of the bank based on its current stock price that stands at Rs. 5,400 crore (810 million dollars).
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