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In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was giventhe license to carry on banking business by the Reserve Bank of India (RBI). This approval created banking history since Kotak Mahindra Finance Ltd. is the first non-banking finance company in India toconvert itself in to a bank as Kotak Mahindra Bank Ltd. Today, we are one of the fastest growing bank and among the most admired financial institutions in India. (ii)Senior Management Mr. Uday S. Kotak Executive Vice Chairman &managing Director Mr. Uday Kotak, B.Com, MMS (Masters in Management Studies), aged 50 years, is the Executive ViceChairman and Managing Director of the Bank, and its principal founder and promoter. Mr. Kotak is analumnus of Jamnalal Bajaj Institute of Management Studies. In 1985, when he was still in his earlytwenties, Mr. Kotak thought of setting up a bank when private Indian banks were not even seen in thegame. First Kotak Capital Management Finance Ltd (which later became Kotak Mahindra Finance Ltd),and then with Kotak Mahindra Finance Ltd, Kotak became the first non-banking finance company inIndia's corporate history to be converted into a bank. Over the years, Kotak Mahindra Group grew intoseveral areas like stock broking and investment banking to car finance, life insurance and mutual funds.
Among the many awards to Mr. Kotak's credit are the CNBC TV18 Innovator of the Year Award in 2006and the Ernst & Young Entrepreneur of the Year Award in 2003. He was featured as one of the GlobalLeaders for Tomorrow at the World Economic Forum's annual meet at Davos in 1996. He was alsofeatured among the Top Financial Leaders for the 21st Century by Euro money magazine. Most recently,he was named as CNBC TV18 India Business Leader of the Year 2008. Mr. Dipak GuptaExecutive Director An electronics engineer and an alumnus of IIM Ahmedabad, Mr. Gupta has been with the Kotak Groupsince 1992 and joined the board in October 1999. Mr. Dipak Gupta, aged 48 years, is an ExecutiveDirector of Kotak Bank. He heads commercial banking, retail asset businesses and looks after group HR function. Early on, he headed the finance function and was instrumental in the joint venture betweenKotak Mahindra and Ford Credit International. He was the first CEO of the resulting entity, Kotak Mahindra Primus Ltd. M r. C JayaramExecutive Director
Mr. C. Jayaram Managing director Mr. C. Jayaram, aged 53 years, is an Executive Director of the Bank and is currently in charge of theWealth Management Business of the Kotak Group. An alumnus of IIM Kolkata, he has been with theKotak Group since 1990 and came on the Kotak board in October 1999. He also oversees theinternational subsidiaries and the alternate asset management business of the group. He is the Director of the Financial Planning Standards Board, India. He varied experience of over 25 years in many areas of finance and business, has built numerous businesses for the Group and was CEO
Business Kotak Mahindra Bank Ltd is a one stop shop for all banking needs. The bank offers personal financesolutions of every kind from savings accounts to credit cards, distribution of mutual funds to lifeinsurance products. Kotak Mahindra Bank offers transaction banking, operates lending verticals, managesIPOs and provides working capital loans. Kotak has one of the largest and most respected WealthManagement teams in India, providing the widest range of solutions to high net worth individuals,entrepreneurs, and business. Scope of the study
People An essential ingredient to any service provision is the use of appropriate staff and people. Recruiting theright staff and training them appropriately in the delivery of their service is essential if the organisationwants to obtain a form of competitive advantage. Consumers make judgments and deliver perceptions of the service based on the employees they interact with. Staff should have the appropriate interpersonalskills, aptititude, and service knowledge to provide the service that customers are paying for. ManyBritish organisations aim to apply for the Investors in People accreditation, which tells customers thatstaff is taken care of by the company and they are trained to certain standards. This will include followingaspects.
1. the staff of Kotak Mahindra bank 2. the branch manager of the Kotak Mahindra bank 3. Customers of the Kotak Mahindra bank Process Refers to the systems used to assist the organisation in delivering the service. Imagine you walk intoBurger King and you order a Whopper Meal and you get it delivered within 2 minutes. What was the process that allowed you to obtain an efficient service delivery? Banks that send out Credit Cardsautomatically when their customer¶s old one has expired again require an efficient process to identifyexpiry dates and renewal. An efficient service that replaces old credit cards will foster consumer loyaltyand confidence in the company. The process of opening an account.
Physical Evidence Where is the service being delivered? Physical Evidence is the element of the service mix which allowsthe consumer again to make judgments on the organisation. If you walk into a restaurant your expectations are of a clean, friendly environment. On an aircraft if you travel first class you expectenough room to be able to lie down! Physical evidence is an essential ingredient of the service mix;consumers will make perceptions based on their sight of the service provision which will have an impacton the organisations perceptual plan of the service.
Receipt facility Sitting facility Broacher availability Water facility Parking facility Air condition facility
Limitations of the study The study could not be made that comprehensive due to time constraints. Some customers feeluncomfortable to reveal some information relating the services they use. It might have happened thatsome more essential information could have been collected
1) Time constraint 2) People are not interested in giving personal opinion. 3) http://search.incredibar.com/?q=kotak+bank+scribd.com&lang=english&source=208365522&u=925428 61832551332&a=6PQwYGYQPW&cid=1&uloc=MB132I have prepared and absolute survey report on Kotak mahindra bank so I have compared the servicesof Kotak Mahindra bank with other banks.