Banks / Kotak Mahindra Bank

Kotak Mahindra Bank (Kotak)

Private Sector Bank Among India's Largest Private Banks RBI Scheduled Commercial Bank
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🏦 Bank Overview

📍
Headquarters
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051, Maharashtra
👤
MD & CEO
Ashok Vaswani
📅
Established
2003 (banking license granted; converted from Kotak Mahindra Finance Ltd, founded 1985 — India's first NBFC to convert into a bank)
🌐
Official Website
kotak.bank.in ↗
🏛️
Ownership
Publicly listed (BSE/NSE: KOTAKBANK); Promoter group (Uday Kotak & family) holds ~25.9%, balance with public/institutional shareholders
🏢
Network
2,270+ branches · 2,700+ ATMs across India (as of Mar 2026), plus GIFT City & DIFC (Dubai) branches

👥 Leadership — MD & CEO

Current

Ashok Vaswani

Managing Director & CEO, Kotak Mahindra Bank — in office since 1 January 2024 (RBI approval received 21 October 2023). Brings over 35 years of global banking experience, including senior leadership roles at Barclays and Citigroup, before joining Kotak as the bank's first MD & CEO from outside the founding family.

A Landmark Leadership Transition

Founder-promoter Uday Kotak voluntarily stepped down as MD & CEO effective 1 September 2023 — ahead of his term-end — to enable an orderly succession, handing charge to a professional CEO for the first time in the bank's history. Joint MD Dipak Gupta held interim charge until Ashok Vaswani's RBI-approved appointment took effect on 1 January 2024.

Last Three MD & CEOs / Predecessors

NameTenureNotable Period
Dipak Gupta (Interim)Sep 2023 – Dec 2023Joint MD who held interim charge during the CEO transition, pending RBI approval of the new MD & CEO
Uday Kotak (Founder)Feb 2003 – Aug/Sep 2023Led Kotak Mahindra Bank from its banking-license conversion in 2003 to become a top-5 Indian private bank; stepped down voluntarily in 2023
Uday Kotak (as NBFC founder)1985 – 2003Founded Kotak Capital Management Finance (later Kotak Mahindra Finance Ltd) in 1985; converted it into a banking company in 2003

📞 Customer Care & Locators

Customer Care Email
service.bank@kotak.com

Phishing/fraud reports: itsecurity.bank@kotak.com

Toll-Free (General Banking)
1800 4100 / 1860 266 2666

24×7 balance, transactions, card blocking, service requests

Toll-Free (Other Helplines)
Fraud/Suspicious Activity: 1800 209 0000
Credit Cards: 1860 266 2360 · NRI Services: +91 22 6606 0104
📍 Branch Locator → 🔎 IFSC Code Finder → 🏛️ RBI Bank Branch/IFSC Master →

💼 Products & Services

💰 Loans

  • Home Loan
  • Personal Loan
  • Car Loan / Used Car Loan
  • Education Loan
  • Gold Loan
  • Loan Against Property / Securities
  • Kisan Credit Card & Agri/Tractor Loans
  • Business Loan / MSME Finance

🏦 Deposits

  • Savings Account (Kotak 811, Edge, ActivMoney sweep-in)
  • Current Account
  • Fixed Deposit
  • Recurring Deposit
  • Tax-Saving Fixed Deposit
  • NRE / NRO / FCNR Accounts

📱 Digital & Forex

  • Kotak 811 (video KYC digital account)
  • Kotak Mobile Banking App & Net Banking
  • Kotak Neo (trading & investing app)
  • UPI, BHIM, Keya AI Chatbot
  • Foreign Exchange & Trade Finance
  • Outward/Inward Remittances & Forex Cards

➕ Other Services

  • Kotak Credit Cards
  • Life & General Insurance (bancassurance)
  • Kotak Mahindra Mutual Fund
  • Demat & Trading (Kotak Securities)
  • Safe Deposit Locker
  • PMJDY, APY, PMJJBY, PMSBY (govt. schemes)

📈 Interest Rates

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Retail domestic term deposit rates below are fetched live from Kotak Mahindra Bank's official rates page where possible. If the live fetch is unavailable, the last published rates are shown instead.

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📊 Financial Results (Last 4 Years)

MetricFY 2025-26 (Mar 2026)FY 2024-25 (Mar 2025)FY 2023-24 (Mar 2024)FY 2022-23 (Mar 2023)
Net Profit (Full Year, Standalone)₹14,008 Cr₹16,450 Cr*₹13,782 Cr₹10,939 Cr
Total Deposits₹5.72 Lakh Cr₹4.95 Lakh Cr₹4.45 Lakh Cr₹3.63 Lakh Cr
Total Advances (Net)₹4.96 Lakh Cr~₹4.86 Lakh Cr~₹4.30 Lakh Cr₹3.26 Lakh Cr
Gross NPA Ratio1.20%1.42%1.39%1.78%
Net NPA Ratio0.25%0.31%0.34%0.37%
CRAR (Capital Adequacy)22.4%22.2%20.5%21.8%
*FY 2024-25 standalone net profit of ₹16,450 Cr includes a one-time gain of ~₹2,730 Cr from the divestment of a majority stake in Kotak General Insurance; core operating profit for the year was closer to ₹13,720 Cr. Total Advances for FY25/FY24 are approximate (marked ~), converted from figures reported in ₹ billion. Figures compiled from Kotak Mahindra Bank's published quarterly/annual results and press releases; always verify precise numbers on Kotak's official Investor Relations page before making financial decisions.

🏛️ RBI Regulatory Information (As on Date)

Regulator
Reserve Bank of India, under the Banking Regulation Act, 1949
Bank Category
Scheduled Commercial Bank (Private Sector) — Second Schedule, RBI Act 1934
D-SIB Status
Not classified as a Domestic Systemically Important Bank — RBI's current D-SIB list includes only SBI, HDFC Bank and ICICI Bank
Minimum CRAR Required
11.5% (9% minimum + 2.5% Capital Conservation Buffer, Basel III) — Kotak Mahindra Bank's actual CRAR: 22.4%
PCA Framework
Not under RBI's Prompt Corrective Action framework
Recent Regulatory Action
RBI barred the bank (24 Apr 2024, under Section 35A of the Banking Regulation Act) from onboarding new customers via online/mobile channels and issuing fresh credit cards, citing IT/cybersecurity gaps. Restrictions were lifted on 12 Feb 2025 after remedial measures and an external audit.
Deposit Insurance
DICGC cover up to ₹5,00,000 per depositor per bank
Grievance Redressal
RBI Integrated Ombudsman Scheme, 2021 — toll-free 14448
More
Browse related RBI Circulars →

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