Kotak Life Insurance - Compare Plans & Get Reviews Online
Kotak Mahindra Life Insurance Limited is one of the leading insurers in India. It has been touted as one of the quickest growing insurance organisations in the country, with more than 4 million policyholders across India. The company has designed a number of unique products and services to meet the ever-changing financial needs of a diverse customer base. Whether you are looking for protection plans, savings and investment instruments, retirement plans or child plans, Kotak Mahindra’s portfolio is certain to make it relatively easy in finding the best product for you. The company offers solutions for group entities as well as individuals, ensuring that no matter what your investment requirements are, there is something that will help you meet your long-term goals. Kotak Mahindra also holds the distinction of having among the best claim settlement ratios in the industry, thereby giving us a glimpse of its quality business practices.
Different Types of Life Insurance Policies Offered by Kotak Mahindra:
Kotak Mahindra Life InsuranceLimited has become of the leading insurers in India for many reasons, one of which is the company’s quality products. Not only does the company offer solutions that help in meeting your long-term objectives, but it also has a vast portfolio that can help customers find the perfect policy whether they seek protection, savings and investment plans, child plans or retirement solutions. Following are the different kinds of life insurance policies offered by Kotak Mahindra Life Insurance Company.
Kotak Mahindra Protection Plans:
The protection plans made available by Kotak Mahindra are designed in a manner such that they not only ensure that your family is financially secure in the event of your untimely demise, but it also helps in ensuring that the emotional well-being of your family is not too adversely affected whilst helping them live debt-free. Following are the protection plans offered by Kotak Mahindra Life Insurance Limited:
- Kotak Saral Suraksha: Pure term plan with significant cover at affordable premiums, valid for 5 or 10 years’ tenors.
- Kotak Preferred e-Term Plan: This plan helps customers protect their families against the uncertainties of life. Preferred e-Term Plan offers a high level of protection for an affordable price of just Rs.6,975 per annum.
- Kotak Preferred Term Plan: This plan offers two death benefit payout options, viz. Recurring Payout or Immediate Payout whilst also offering preferential rates for female customers and individuals who do not use tobacco.
- Kotak Term Plan: The Term Plan from Kotak Mahindra offers customers with a high level of protection at rather affordable prices. It also offers preferential rates for female customers.
- Kotak Income Protection Plan: The Income Protection Plan offers monthly income which rises at 6% per annum compounding for the rest of the policy term in case of the untimely death of the policyholder. It also provides a lump sum amount to ensure that your family has adequate finances to meet immediate requirements in your absence.
|Plan||Basic Sum Assured||Policy Term (Tenure)|
|Kotak Saral Suraksha||Rs.5,000 / Rs.10,000 / Rs.15,000 / Rs.25,000 / Rs.50,000 / Rs.75,000 / Rs.1 lac||5 years and 10 years|
|Kotak Preferred e-Term Plan||Rs.25 lacs||10 years to 40 years|
|Kotak Preferred Term Plan||Rs.25 lacs||5 years to 40 years|
|Kotak Term Plan||Rs.3 lacs||5 years to 30 years|
|Kotak Income Protection Plan||n/a||10 years to 30 years for Regular Pay policies; 17 years to 30 years for 12 Pay policies; 20 years to 30 years for 15 Pay policies|
Kotak Mahindra Savings and Investment Plans:
The savings and investment plans offered by Kotak Mahindra offer a number of avenues through which customers can save and earn money. The systematic manner in which your funds are invested in these plans ensure that policyholder and his / her family have enough money to meet their financial targets. Following are the savings and investment plans you can avail from Kotak Mahindra Life Insurance Limited:
- Kotak Assured Income Accelerator: Guaranteed maturity and death benefits. Incremental guaranteed income during payout period.
- Kotak Gramin Bima Yojana: Single premium product with death and maturity benefits meant for the social and rural sector of customers.
- Kotak Premier Moneyback Plan: A savings and investment limited pay plan providing payouts in lump sum at regular intervals.
- Kotak Classic Endowment Plan: A long term savings and protection plan that earns bonuses in the policy tenor and offers protection benefits.
- Kotak Assured Savings Plan: Guaranteed maturity benefits and increasing life cover that provide affordable protection and wealth accumulation opportunities.
- Kotak Assured Income Plan: Assured annual income for 15 years, on top of death and lump sum maturity benefits.
- Kotak Platinum: Multiple options to invest your money in and flexible premium payments.
- Kotak Single Invest Advantage: Single premium life and investment plan that provides good rate of returns.
- Kotak Ace Investment :ULIP savings and investment plan with option to choose from 7 funds and ability to switch between funds.
- Kotak Wealth Insurance: A ULIP plan providing a balance between wealth accumulation and protection.
- Kotak Invest Maxima: A ULIP plan with special emphasis on investment with high premium allocation as well as Systematic Switching Strategy which provides a systematic approach toward the equity market.
- Kotak Premier Endowment Plan: Guaranteed additions in the first 5 years with bonus being paid out from 6th year onwards.
- Kotak Single Invest Plus: This single premium plan covers two lives and offers benefits to the survivor in case of the untimely death of the other individual covered by the policy.
- Kotak Sampoorn Bima Micro-Insurance Plan: The Sampoorn Bima Micro-Insurance Plan from Kotak Mahindra is a single premium policy which has a fixed five-year term and is ideal for customers who earn a low level of income.
|Plan||Minimum Premium Level||Policy Term (Tenure)|
|Kotak Assured Income Accelerator||Rs.15,000||15 years for 7 Pay policies; 20 years for 10 Pay policies; and 30 years for 15 Pay policies|
|Kotak Gramin Bima Yojana|
|Kotak Premier Moneyback Plan||Rs.1.5 lacs (Minimum Sum Assured)||16 years / 20 years / 24 years|
|Kotak Classic Endowment Plan||Rs.7,000||15 years to 30 years|
|Kotak Assured Savings Plan||Rs.20,000||10 years to 15 years for 5 Pay policies, 12 years to 18 years for 6 Pay policies, 14 years to 20 years for 7 Pay policies, and 15 years to 20 years for 10 Pay policies.|
|Kotak Assured Income Plan||Rs.15,000||30 years|
|Kotak Platinum||Rs.99,000||10 years to 30 years|
|Kotak Single Invest Advantage||Rs.3 lacs (Single Premium)||10 years and 15 years|
|Kotak Ace Investment||Rs.30,000 for Regular Pay policies; and Rs.50,000 for Limited Pay policies||10 years / 15 years / 20 years / 25 years / 30 years|
|Kotak Wealth Insurance||Rs.20,000 for Regular Pay policies; and Rs.50,000 for Limited Pay policies||10 years / 15 years / 20 years / 25 years / 30 years|
|Kotak Invest Maxima||Rs.50,000 for Regular Pay policies; Rs.75,000 for Limited Pay policies; and Rs.1 lac for Single Pay policies||10 years / 15 years / 20 years / 25 years / 30 years for Regular Pay and Limited Pay policies; and 10 years for Single Pay policies|
|Kotak Premier Endowment Plan||Rs.8,000 per year for Regular Pay policies; and Rs.15,000 for Limited Pay policies||10 years to 30 years for Regular Pay policies; 10 years to 30 years for 5 Pay policies; 15 years to 30 years for 7 Pay and 10 Pay policies; and 20 years to 30 years for 15 Pay policies.|
|Kotak Single Invest Plus||Rs.3 lacs||10 years and 15 years|
|Kotak Sampoorn Bima Micro-Insurance Plan||Rs.200||5 years|
|Kotak e-Assured Savings Plan||Rs.20,000||10 years / 15 years for 5 Pay policies and 15 years / 20 years for 10 Pay policies|
Kotak Mahindra Child Plans:
Child plans are a great way to invest in the future of your child and ensure that you have adequate finances to meet expenses related to their higher education, marriage, etc. Kotak Mahindra currently has only one child plan that can be purchased to get a head start on your child’s future. Following is a brief description of the same:
- Kotak Headstart Child Assure: A ULIP plan with three benefits - death benefits, maturity benefits, and premium waiver in case of death of parent (insured).
|Plan||Basic Sum Assured||Policy Term (Tenure)|
|Kotak Headstart Child Assure||Rs.20,000||10 years / 15 years to 25 years|
Kotak Mahindra Retirement Plans:
Retirement plans are designed to provide a regular source of income to the policyholder once he / she has retired from work. These plans enable you to save money in a systematic manner so that you have enough funds to follow your dreams or take your family on an exotic vacation. Following are the three retirement plans you can purchase from Kotak Mahindra Life Insurance Limited:
- Kotak Lifetime Income Plan: Immediate annuity plan that secures your financial future post-retirement. Flexible frequencies of payouts available.
- Kotak e-Lifetime Income Plan: A single premium immediate annuity plan that offers lifetime income through four options available. The plan can be applied for online and the annuity rate remains unchanged throughout the policy term.
- Kotak Premier Pension Plus: The Premier Pension Plan from Kotak Mahindra enable you to accumulate money for your retirement, thus ensuring that you continue to live a comfortable life and have no worries about money as you will receive a regular income to carry on with life.
|Plan||Basic Sum Assured||Policy Term (Tenure)|
|Kotak Lifetime Income Plan||Single Premium: Rs.50,000||Information not available|
|Kotak e-Lifetime Income Plan||Information not available||Information not available|
|Kotak Premier Pension Plus||Rs.2 lacs||10 years to 30 years for Regular Pay policies; 15 years to 30 years for 10 Pay; 17 years to 30 years for 12 Pay policies; and 10 years and 15 years for Single Pay policies|
Kotak Mahindra Group Plans:
Group plans from Kotak Mahindra are designed to strengthen the relationship between employers and employees. Not only do these plans provide customers with life cover, but also ensure that they have a comfortable life post retirement by means of pension and gratuity plans. Following are the various group plans offered byKotak Mahindra Life InsuranceCompany:
- Kotak Gratuity Plus Group Plan: A unit-linked group gratuity plan that allows for funding of the gratuity obligation borne by an organisation along with providing return of all contributions made, increasing number of units for increasing fund size and a life insurance coverage for all the employees.
- Kotak Leave Encashment Group Plan: A group insurance plan that allows organisations to service the needs of employees’ leave encashment liabilities increasing over time. The plan allows a choice of six fund options and increases units as per the increasing fund size. Life insurance coverage is provided for the employees.
- Kotak Secure Return Superannuation Plan: group insurance plan aimed to provide for superannuation benefits for employees as planned by organisations. The plan provides a guaranteed minimum floor rate and also additional protection through suitable rider plans.
- Kotak Secure Return Employee Benefit Plan: A group insurance plan aimed to provide for employee benefits as planned by organisations. The plan provides a guaranteed minimum floor rate and also additional protection through suitable rider plans and is renewable on an annual basis.
- Kotak Superannuation Group Plan – II : A group insurance plan that provides for superannuation benefits through two schemes under an assured benefit and offers multiple tax saving options for both the employer and the employee.
- Kotak Term Group Plan: A group insurance plan that allows the employer to provide for a life cover for the employees that can be voluntarily shifted to the spouse. The insurance plan has worldwide coverage, entails tax benefits and has varying payment frequencies.
- Kotak Credit Term Group Plan: A group insurance plan that offers a life cover to the borrowers of credit institutions to protect the interests of the lender as well as the borrower. It is a non-participating annually renewable plan.
- Kotak Gratuity Group Plan: A unit-linked group gratuity plan that is aimed to help companies fulfil the gratuity obligations towards its employees and also provides life insurance cover for the group. With a choice of 6 fund options, this plan offers market-linked returns and long-term investment growth.
- Kotak Complete Cover Group Plan: A group insurance plan for borrowers of a credit institution that provides life cover for a group of or all borrowers of a credit institution, safeguarding both the borrower and the lender against an event of an unfortunate demise. While the liability of repayment gets cleared off from the borrower’s family, the remaining amount of the life cover acts as a financial support.
- Kotak Group Assure: A group insurance with a reducing cover term plan that offers financial security to both the credit institution and the customer through protection of the availed loan against any event of unfortunate death, disability, critical or terminal illness.
- Kotak Group Shield: A group insurance plan that protects credit institutions and its customers against loan liabilities. The protection extends to disability, critical or terminal illness too. Available in five options for different needs.
- Kotak Group Secure: This is a pure group term insurance policy that meets the financial requirements of non-employer employee groups and covers the death of members.
- Kotak Group Secure One: The Group Secure One plan from Kotak Mahindra offers a comprehensive protection solution to the members of the group in case of an untimely death or a terminal illness.
|Plan||Basic Sum Assured||Policy Term (Tenure)|
|Kotak Group Secure One||Rs.5,000||One year (renewable annually)|
|Kotak Group Secure||Rs.5,000||2 years for Single Premium policies and 5 years for Regular Premium policies|
|Kotak Gratuity Plus Group Plan||Rs.1,000||One year (renewable annually)|
|Kotak Leave Encashment Group Plan||Rs.1,000||One year (renewable annually)|
|Kotak Secure Return Superannuation Plan||Contribution: Rs.2,000 per member||One year (renewable annually)|
|Kotak Secure Return Employee Benefit Plan||Contribution: Rs.15 lacs||One year (renewable annually)|
|Kotak Superannuation Group Plan – II||Contribution: Rs.6,000 per member||One year (renewable annually)|
|Kotak Term Group Plan||Rs.1,000 per member||One year (renewable annually)|
|Kotak Credit Term Group Plan||Information not available||One year (renewable annually)|
|Kotak Gratuity Group Plan||Rs.5,000||One year (renewable annually)|
|Kotak Complete Cover Group Plan||Rs.5,000||2 years to 30 years|
|Rs.5,000 for Easy Group Assure; Rs.25,000 for Group Assure||2 years to 30 years for Single Premium policies; and 5 years to 30 years for Regular Premium policies|
|Kotak Group Shield||Rs.5,000 for Easy Group Shield; Rs.25,000 for Group Shield||2 years to 30 years for Single Premium policies; and 5 years to 30 years for Regular Premium policies|
How to Claim Insurance with Kotak Mahindra Life Insurance Limited:
In case of the death of a life assured, the nominee must intimate the company about the claim by sending a letter to Claims Department, Kotak Mahindra Old Mutual Life Insurance Company Limited, Kotak Infiniti, Building no.21, 7th Floor – Zone 2, Infinity Park, Off Western Express Highway, General AK Vaidya Marg, Malad (E), Mumbai – 400097.
Documents Required to Claim Insurance with Kotak Mahindra:
- Duly-filled death claim intimation form
- Original policy documents
- Original death certificate issued by municipality or equivalent authority
- A photograph, photo ID proof and current address proof of the claimant
- A statement with bank account details / a copy of bank passbook of the claimant
- Medical questionnaire
- Medical records such as death / discharge summary, treatment records, hospital indoor papers, investigation reports, consultation notes, etc.
- Medical certificate stating cause of death
- Copy of certified first information report / panchnama / inquest
- Copy of certified chemical analysis report / post-mortem report
- Copy of driving license in case the insured individual was driving at the time of accident
- Settlement option form
All documents that are submitted to the company must be photocopies or originals attested by a gazetted officer, magistrate, SEM or an individual of local standing, like the Talathi, Police Sub-Inspector, Sarpanch or Tahsildar. The company is at discretion to accept / reject the claim based on the documents you have provided and after it has carried out its investigation to verify the authenticity of the claim.
Kotak Mahindra Claim Settlement Ratio:
|Total Premium in Crores (2014-15)||Total Premium in Crores (2013-14)||Claim Settlement Ratio (2014-15)||Claim Settlement Ratio (2013-14)|
Documents Required to Purchase Kotak Mahindra Life Insurance:
Following are the documents you will require to purchase a life insurance policy from HDFC Life:
- Identity proof
- Address proof
- Income proof
- PAN Card
- Self-attested bank passbook copy
How to Check Kotak Mahindra Policy Status Online:
To check the status of your Kotak Mahindra life insurance policy online, all you have to do is visit the official website of the company and locate the Login option at the top of the homepage. Then select Customer Login Option and you will be redirected to the Customer Login Portal where two options will appear – Individual Customer and Group Customer. Select your preferred option.
In case the option you have selected is Individual Customer, you will have to enter your email address and password before hitting Submit. Once this is done, you will have logged in to your account and the policy details will appear on screen.
Kotak Mahindra Life Insurance Online Payment:
Customers can pay their premiums online instead of visiting a branch of the company and doing it personally. All you have to do is visit the company’s official website and under the Customer section, select Pay Premium Online after which you will be redirected to a new page where you will have to register / sign in and then select the payment mode and complete payment.
Kotak Mahindra Life Insurance Premium Calculator:
You can check the amount of premium payment applicable to any life insurance policy purchased from Kotak Mahindra by simply visiting the company’s website and locating the calculator. Details of the policy must be entered so that an accurate calculation is made.
Kotak Mahindra Life Insurance Frequently Asked Questions:
1. What are the different life insurance policies offered by Kotak Mahindra Life Insurance?
A. Kotak Mahindra offers insurance plans for Protection, savings and investment, child and for retirement. To know more visit the company website.
2. What are the different premium paying options available?
A. Premiums can be paid on a yearly, half yearly, quarterly and monthly basis. Some plans also have the option for the premiums to be paid for a limited period of time and not for the full policy term.
3. Can I buy insurance for my children as well?
A. Yes, Kotak Headstart Child Assure Plan can be bought for your children. This plan can be used as an investment option to build wealth for your child's education or marriage or business.
4. Will riders be available?
A. Various riders available are Critical Illness, Permanent Disability Benefit, etc. There are riders that can waive your future premiums in case of death or disability of the proposer. The riders come at a nominal cost and can be availed depending on the policy taken. They can be taken at the beginning or during the policy term.
5. What will happen to my policy if I miss a premium payment due date?
A. You will get a grace period of 30 days after the premium payment due date for paying the outstanding premium. If you don’t make the payment in the grace period, the policy will lapse. You can revive your lapsed policy by paying your outstanding premium and late payment charges within 6 months from the date of lapse. For plan specific conditions, refer the plan document that contains the terms and conditions for more details.
6. Will I get maturity benefits on my life insurance policy?
A. Yes, you will receive maturity benefits as defined in your plan.
7. Should I buy a life insurance at an early age? What are its advantages?
A. The younger you are, the lower is your insurance premium amount. You would be physically sound and may not be suffering from illnesses when you are younger. This lowers your premium payment on the policy. Buy insurance at an early age to reduce the cost of insurance.
8. Can I make lump sum payment for my policy?
A. Yes, Kotak Platinum Plan lets you create wealth and at the same time multiply your capital and retain your money for a time when you need it the most.
9. Can I restrict my premium payment?
A. Yes, with the Kotak Classic Endowment Plan, you can choose the Limited Premium Payment (LPP) option. Under this option you can take a policy for 15 to 30 years and opt to pay premiums for either 7 years for 15 years policy term or policy term less 5 years
10. How can I go about buying Kotak Life insurance policy?
A. To buy a policy please contact Kotak Mahindra Life Advisors. You can also enquire about Kotak Mahindra Life Insurance policies by calling on 1800 209 8800 or you can email your contact details.
11. What happens in case I fail to make premium payments on time?
Customers who fail to pay their premiums on time will receive a grace period of 30 days to clear their dues. If they fail to pay the premium within this period as well, the policy will be considered as lapsed. Lapsed policies can be revived once you paid all the outstanding premiums along with the late payment fees. However, the outstanding dues must be cleared within six month from the date on which the policy had lapsed.
According to data displayed by Block Deal, Sumitomo Mitsui, a Japanese Banking Corporation has sold of 1.8% of their stake in Kotak Mahindra bank for the sum of Rs 3,433 crore. Of the 1.8% of shares sold, 1% of the stake were picked up by the Canada Pension Plan Investment Board for Rs 2084 Crores or 18.1 Million shares and the remaining 0.8% of the stake was picked up at Rs 623.95 per share to unknown buyers.
This sell is the second of its kind with California Public Employees Retirement system selling their stake in Axis Bank on Monday
30th March 2016
Expanding their range of products, Kotak Life Insurance launches the new Kotak Premier Life Plan. This plan has a limited premium payment and is a participating whole life plan which aims to provide long term savings and protection for the policyholder. The plan offer insurance coverage up to the age of 99 years, with the option to choose either a cash payout or paid up additions at the time of entry.
8th February 2016
Kotak Mahindra Old Mutual Life insurance which is one of the leading life insurance companies in India recently announced that it is expecting business worth Rs.1800 crore this year as compared to last year’s business of Rs.1500 crore. The company’s Chief Distribution officer announced this at the launch of Kotak Premier Life Plan, a life insurance policy. The company’s market share in the insurance segment is currently between 4-5%.
14th January 2016
Kotak Life Insurance Company recently launched Kotak Premier Life Plan. It is a limited premium payment plan.
The plan enables customers to choose between either cash payout or paid up addition option. The cash payout option will pay the bonuses declared by the policy every year after the premium payment is over. This will continue till the end of the policy or death of the policyholder. On the other hand, the paid-up additions would enable policyholders to use their bonuses to buy paid-up additions.
The plan will help the policyholder save accumulated bonus which can be withdrawn after the expiry of premium paying term. This is a participating whole life product that helps customers enjoy enhanced protection and plan for a better future.
12th January 2016
Kotak Mahindra Old Mutual Life Insurance, has planned to reach Rs. 900 crore milestone in the individual new business regular premium. This can result in a 50% growth in business, as compared to the previous year. The life insurance company is a 74:26 joint venture between Kotak Mahindra Bank, its affiliates and Old Mutual.
For year-to-date September 2015, the company has gained individual new business regular premium worth Rs 325 crore. In a statement released, the company’s managing director G Murlidhar said that presently the company has a balanced product mix. The mix comprises 33% participating products, 46% non-participating business, and the remaining 21% unit linked products. The same product mix will be maintained during the rest of the financial year.
9th December 2015
Kotak Mahindra General Insurance Company recently received permission from the Insurance Regulatory and development Authority of India to start its insurance business in India. The insurance company will now operate as how the other insurance companies work in India work. Kotak Mahindra General Insurance Company has already completed the registration formalities required by IRDA.
Initially, Kotak General Insurance will concentrate on Health Insurance, Home Insurance, Travel Insurance and Motor Insurance. Going forward, the company will expand its operations into Burglary, Marine and Fire. Kotak General Insurance Company has also received permission to underwrite all classes of general insurance business in India.
23rd November 2015
Kotak Life Insurance has announced the launch of a new insurance plan, the Kotak Premier Pension. Coming with a life cover, this plan is a pension offering one that adds to the financial security of the policyholder post retirement.
It is a traditional non-linked participating plan that offers guaranteed additions in the first five years. These additions are a percentage of the sum assured and add to the retirement benefits that can be availed. Two optional riders of Kotak Accidental Death Benefit and Kotak Permanent Disability Benefit make the risk cover offered by this policy even more comprehensive.
16th September 2015
Insurance penetration in India, in 2001, stood at 2.71%, by 2010 it had risen to an impressive 5.2% but after that it has fallen to only 3.9% said Sunil Sharma the Chief Actuary of Kotak Life Insurance. He also said that with the government’s announcement of intentions to increase foreign investor’s stake from 26% to 49%, the country was ready to enter a new era where insurance products would be more easily available to customers.
Keeping this positive step in mind he has set forth the following expectations from the upcoming budget. The current provisions under section 10(10D) state that if the sum assured is less than 10 times the premium paid then the financial benefits from the insurance policy can be taxed however the provision does not take into account the way in which the premium is paid and this needs to be addressed. He also suggested that to encourage long term investments the government should provide exemptions for investments in pension plans. He has also pointed out that the absence of zero coupon bonds in India is affecting insurer’s ability in Asset Liability Management and that the introduction of these bonds would help a lot.
24th February 2015
The Rs 15,000-crore merger between Kotak Mahindra Bank and ING Vysya Bank would create a world-class financial institution that is expected to usher in acche din, said Kotak's head Uday Kotak. The all-share deal, for which he expects all necessary regulatory approvals by March 2015, would create India's fourth largest bank. Terming the merger as "a marriage almost made to order for both parties", Kotak said that the balance sheet on combined basis would be rupees two lakh crore and the market cap will be over rupees one lakh crore. The senior banker said that the Indian banking industry needs to consolidate, "To finance India's future financing needs, you need banks of size." Kotak allayed concerns that the merger would result in any job losses and said that the synergies from the transaction would instead provide new growth opportunities for the staff of both banks and also create new jobs over a period of time. Post the merger, Dutch financial services giant ING, currently the main promoter of over 80-year-old ING Vysya Bank, would become a shareholder in the merged entity and would remain invested for at least the forthcoming year.
17th December 2014
As far as biggie mergers go, this has to be one of the biggest. Kotak Mahindra Bank has committed to buying out ING Vysya Bank in an all-share purchase, thus creating a colossus entity worth Rs.1,04,734 crore and giving Kotak Bank a trillion rupee valuation within the first 12 years of its incorporation. As per the agreement, ING Vysya shareholders will receive 725 shares of Kotak Mahindra Bank for every 1000 shares they own. This deal will ensure that Kotak will comfortably double its branch networks and also gain existing footholds in locations where the bank had planned to go. While all the formalities are initiated and running smoothly towards the successful completion of this acquisition, the merger is still subject to regulatory approvals from RBI and other regulators.
25th November 2014