Kotak Mahindra Bank revises Base Rate downwards by 10bps

Mumbai, January 6, 2017: Kotak Mahindra Bank has revised its Base Rate downward by 10bps to 9.30% p.a. with effect from January 6, 2017.

About Kotak Mahindra Bank Limited

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd., the Group's flagship company, received banking license from the Reserve Bank of India, becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd.

Effective April 1, 2015, ING Vysya Bank Ltd. merged with Kotak Mahindra Bank Ltd. As on September 30, 2016, Kotak Mahindra Bank Ltd. has a national footprint of 1,336 branches and 2,044 ATMs spread across 702 locations.

The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking and Treasury, which cater to retail and corporate customers across urban and rural India.