Kotak Mahindra Bank Current Affairs - 2019

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Kotak Mahindra-ING Vysya merger gets shareholders nod

Private sector Kotak Mahindra Bank has received its shareholders nod for merger of Bengalaru-headquartered  ING Vysya Bank with itself.

It was approved by the 99.30 per cent in number representing 99.93 per cent in value of the shareholders present.

This approval is considered as important step for merging of two banks to form new entity. Now this merger is subject to the final approval from Reserve Bank of India (RBI), Competition Commission of India (CCI) and such other approvals.


In November 2014, Kotak Mahindra Bank had announced that it is acquiring ING Vysya Bank in an all-stock deal.

This merger will make Kotak the fourth-largest private bank in India in terms of total business. The biggest three private banks are ICICI Bank, HDFC Bank and Axis Bank.

The management of these banks are expecting that the new merged entity will be operational by April 1, 2015.

The acquisition will help Kotak Mahindra Bank to widen its reach in South Indian market and also help in acquiring SME customers as ING Vysya Bank was having stronghold in SME customers.

After merger the combined banking entity will have a widespread network of 1,214 branches across pan India.

Month: Categories: Business, Economy & Banking


All about WPP: the BrandZ Top 50 Indian companies report

WPP is the world leader in marketing communications and is known for its reports on various statistics. It leads a group of companies which deal in various peripheral of marketing communications and intelligence like Advertising; Media Investment Management; Data Investment Management (formerly known as Consumer Insight); Public Relations & Public Affairs; Branding & Identity; Healthcare Communications; Direct, Digital, Promotion & Relationship Marketing; Specialist Communications etc. They have around 3000 offices in about 110 countries across the globe.

The Indian Report

WPP BrandZ Top 50 Indian companies 2014 report has been released. The report which is formed after extensive surveys where consumers are interviewed and asked their preferences individually. The study is normally conducted for established business houses and brand names who have made significant difference to society and people. It covers and analyzes data about the strengths, weak points, competition, brand equity and market presence. This report about Indian market is the first of its series and has sent ripples in the market. Being a reputed brand everybody who is linked to business environments in India will find it highly relevant and immensely loaded with information that will help them grow on Indian soils. In addition to the current analysis, the report also provides valuable information and suggestions to those involved to steer their business through Indian markets effectively. It also provides a comparison brand valuation rankings in different countries like China, India, Latin America, etc. The whole survey being commissioned by WPP was actually carried by a research agency Millward Brown- specialists in brand equity and valuation research.

Top 10 companies

In the first version of WPP BrandZ report HDFC has taken a clear lead and has topped the charts with a value of $9.4 billion and a network in 2100 cities and towns across the country. The other names which follow the trail are Airtel, State Bank of India, ICICI Bank, Bajaj Auto, Asian Paints, Hero Moto Corp, Idea, Kotak Mahindra Bank and Reliance Communications. In the top 50, 17 are multinational and 26 are private Indian brands. Thus, it is clear that top ranks went to service firms such as banking, telecom and insurance. The report also stresses on Indianization of businesses for better hold of the market. The megabrands which took the lead as they have the capacity to reach even the remotest corners of our country. Public sector firms failed to make their mark. The Indian customer who has embraced the new-age products has still not broken ties with some brands which form share of their heart. The report is very informative and an eye-opener for many.

Month: Categories: National