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Kotak Mahindra Bank, which has six branches in Kerala, will open more branches in the State in the near future, says its Executive Vice-President Virat Diwanji.
He told a news conference, where the bank’s new product – Kotak Junior aimed at teenagers – was launched, that NRIs made up a huge chunk of its customer base in Kerala.
“About 40 to 45 per cent of our business here involves NRIs,” he said. More branches would mean better service to them too, he said. He said Kotak Junior would foster the savings habit of children below 18 years.
Child customers above 10 years could opt for debit cards, but there would be a ceiling of Rs 5,000 on withdrawals.
There is also a 10-year recurring deposit for children.
Source: thehindubusinessline
He told a news conference, where the bank’s new product – Kotak Junior aimed at teenagers – was launched, that NRIs made up a huge chunk of its customer base in Kerala.
“About 40 to 45 per cent of our business here involves NRIs,” he said. More branches would mean better service to them too, he said. He said Kotak Junior would foster the savings habit of children below 18 years.
Child customers above 10 years could opt for debit cards, but there would be a ceiling of Rs 5,000 on withdrawals.
There is also a 10-year recurring deposit for children.
Source: thehindubusinessline
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