Kotak Mahindra Bank jumps on launching Micro ATMs across India
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Kotak Mahindra Bank is currently trading at Rs. 2013.25, up by 19.10 points or 0.96% from its previous closing of Rs. 1994.15 on the BSE.
The scrip opened at Rs. 2010.00 and has touched a high and low of Rs. 2015.00 and Rs. 1996.10 respectively. So far 15664 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2077.90 on 28-Sep-2021 and a 52 week low of Rs. 1301.25 on 15-Oct-2020.
Last one week high and low of the scrip stood at Rs. 2015.00 and Rs. 1931.00 respectively. The current market cap of the company is Rs. 398858.29 crore.
The promoters holding in the company stood at 26.00%, while Institutions and Non-Institutions held 57.39% and 16.61% respectively.
Kotak Mahindra Bank (KMBL) has launched Micro ATMs across the country. Customers of all banks who possess a debit card can use a Kotak Micro ATM for key banking services such as cash withdrawals and checking account balances. A mini version of an ATM, micro ATMs are small handheld devices.
KMBL is using its extensive Business Correspondents (BC) network to launch micro ATMs. The Business Correspondent could be a shopkeeper for instance, who will act as a convenient touchpoint for customers and assist them with the transaction. Using their debit card and PIN, customers can conduct transactions instantly through the Kotak micro ATM. The micro ATM is connected to the core banking network using the General Packet Radio Service (GPRS) technology.
Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.
