 "(From left) Shanti Ekambaram, President of Consumer Banking, Kotak Mahindra Bank Ltd and Uday Kotak, Executive Vice Chairman and MD, Kotak Mahindra Bank at the launch of bank's '8-11' service in Mumbai (Photo: Suryakant Niwate)")
Kotak Mahindra Bank (KMB) announced an offer for opening a zero balance savings account on Wednesday, with zero charges for all digital transactions.
This comes when many of its competitors, such as State Bank of India and HDFC Bank, are either raising or reintroducing charges for transactions. From April 1, SBI is set to introduce a fee for failing to keep a minimum balance in some types of savings bank accounts.
KMB said its new ‘811’ plan, to promote a digital banking system via mobile phones, was aimed at doubling its customer base to 16 million over the
This comes when many of its competitors, such as State Bank of India and HDFC Bank, are either raising or reintroducing charges for transactions. From April 1, SBI is set to introduce a fee for failing to keep a minimum balance in some types of savings bank accounts.
KMB said its new ‘811’ plan, to promote a digital banking system via mobile phones, was aimed at doubling its customer base to 16 million over the
