90% Indians Earn Less Than Rs 25K/Month: Jay Kotak On ICICI Bank's Decision To Hike Minimum Average Monthly Balance To Rs 50,000
Jay Kotak tweeted 90% of India makes less than Rs 25,000 a month. A Rs 50,000 minimum balance implies a sum equal to 94% of Indians monthly income is to be left with the bank at all times, else a fee.
Aug 11, 2025, 13:05 PM IST
Central Govt Employees May See 13 Percent Salary Rise With 8th Pay Commission, Says Kotak
It is expected to give about a 13 percent real salary hike, with the minimum pay likely rising from Rs 18,000 to Rs 30,000 per month. A fitment factor of about 1.8 may be used to recalculate pay.
Jul 25, 2025, 21:10 PM IST
Good news for home buyers! This bank reduces interest rates to 6.75%
The new loan rates of this bank are effective from November 1, 2020.
Nov 06, 2020, 14:30 PM IST
NBCC, Kotak among 4 shortlisted bidders for Jaypee Infra; L&T Infra out of race
Jaypee Infratech is undergoing insolvency proceedings in the NCLT.
Dec 06, 2018, 13:00 PM IST
New India Assurance IPO gets Sebi go-ahead
According to the draft papers, the government will be selling 9.6 crore shares, whereas the company itself will be selling 2.4 crore shares through the IPO.
Sep 18, 2017, 17:59 PM IST
SBI set to hire six banks for up to $2.3 billion share sale
State Bank of India is set to hire Bank of America Merrill Lynch, Deutsche Bank, IIFL, JM Financial, Kotak and SBI Capital to manage a share sale of up to 150 billion rupees.
May 26, 2017, 10:14 AM IST
Rupee to average 66.2 against dollar in 2017-18: Kotak
The appreciation in the rupee is likely to continue for some time and it is expected to average at 66.2 against the US dollar in the current financial year.
Apr 11, 2017, 13:02 PM IST
'Only five large banks can survive in the long-term'
Banker Uday Kotak feels there will be strong consolidation in the financial services sector and eventually only five players will dominate the space just like in the global space.
Apr 02, 2017, 13:11 PM IST
Kotak Mahindra aims to double customer base on new app
Kotak Mahindra Bank on Wednesday said it is planning to double its customer base through its new mobile banking app called 8-11.
Mar 29, 2017, 20:09 PM IST
Not much shift in RBI policy ahead, 0.25% cut likely: Report
With the government setting inflation target at 4 percent, the Reserve Bank is unlikely to make much shift in its stance going forward and may go for a 25 bps cut in the second half of the fiscal.
Aug 12, 2016, 16:13 PM IST
Reliance Jio's 4G rollout in next three months: CLSA
Billionaire Mukesh Ambani's telecom venture Reliance Jio may commercially launch 4G voice and high-speed data services in the next three months, brokerage CLSA said on Thursday.
Jul 21, 2016, 18:37 PM IST
Vodafone chooses Kotak, UBS, ICICI for $2 billion share sale
Close to launching an Initial Public Offering (IPO), Vodafone has picked six investment banks, including Kotak, ICICI and UBS, for the over USD 2 billion share sale process, as per media sources.
May 01, 2016, 21:53 PM IST
Vodafone appoints six investment banks for $3billion India IPO
Telecom major Vodafone is getting closer to its initial public offering (IPO) plan in India and the company has already selected investment bankers for the issue.
Apr 30, 2016, 19:11 PM IST
Risk-pricing must improve for better asset quality, says Kotak
Stating that there is an urgent need to arrest rising bad loans, Uday Kotak, head of Kotak Mahindra Bank, today said the problem arose as bankers excessively focussed on collaterals and not the cash flow prospects of the funded projects.
Apr 14, 2016, 19:43 PM IST
Kotak Mahindra Bank cuts base rate by 0.25 percent to 9.50%
Kotak Mahindra Bank today slashed its base rate by 0.25 percent to 9.50 per cent, effective October 5. The base rate cut has been possible on revisions in the deposit offerings in recent past and the bank will also be cutting its deposit rates marginally
Oct 01, 2015, 16:58 PM IST
India on marathon path; markets don't need steroids: Kotak
Kotak also said that one of the biggest challenges today was the history of excessive leverage by India Inc.
May 31, 2015, 14:58 PM IST