Kotak Mahindra Bank Limited

About Kotak Mahindra Bank Limited

  1. Kotak Mahindra Bank Limited is an Indian banking and financial services corporation with its headquarters in Mumbai. It provides corporate and retail customers with banking products and financial services in the fields of personal finance, investment banking, life insurance, and wealth management. As of November 2021, it is India’s third largest private sector bank in terms of assets and market capitalization. The bank has 1600 branches and 2519 ATMs as of February 2021.
  2. Uday Kotak established what would subsequently become an Indian financial services giant in 1985. The Reserve Bank of India granted the group’s flagship company, Kotak Mahindra Finance Ltd. (KMFL), a banking licence in February 2003. KMFL became India’s first non-banking financing firm to be turned into a bank as a result of this. KMBL was placed 245th among the world’s top 500 banks in a Brand Finance Banking 500 research released in February 2014 by Banker magazine, with a brand valuation of about US$481 million and an AA brand rating.

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Equity, typically referred to as shareholders’ equity (or owners’ equity for privately held companies), represents the amount of money that would be returned to a company’s shareholders if all of the assets were liquidated and all of the company’s debt was paid off in the case of liquidation. In the case of acquisition, it is the value of company sales minus any liabilities owed by the company not transferred with the sale.

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Income tax is a type of direct tax that a government imposes on its people’ earnings. The central government is required to collect this tax under the Income Tax Act of 1961. Every year in its Union Budget, the government can adjust the income slabs and tax rates.
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