Stock Report

Kotak Mahindra Bank reaches One Million FASTags Milestone

Posted On : 2021-11-29 21:02:55( TIMEZONE : IST )

Kotak Mahindra Bank Ltd (KMBL) today announced that it has reached a significant milestone of issuing one million FASTags, as per the latest data released by payments regulator, National Payments Corporation of India (NPCI). This accomplishment also makes KMBL the fourth largest FASTag issuer in the month of October 2021. In February 2021, the government directed that all lanes in toll plazas at national highways be declared FASTag lanes and made FASTag-mandatory for all vehicles.

The noteworthy feat comes on the back of KMBL's consistent efforts in ensuring easy digital issuance journeys and radical changes in its distribution network across online and offline platforms to keep up with the new normal. Both commercial and passenger vehicle owners helped KMBL reach this pedestal.

Puneet Kapoor, President - Products, Alternate Channels and Customer Experience Delivery, Kotak Mahindra Bank said, "We are grateful to our customers for trusting us and banking on us as their 'travel buddy'. Our smooth digital interfaces, easy accessibility to agents, and customised solutions for customers have made us the preferred choice for our customers. Kotak NETC FASTag also offers a wide range of attractive offers."

Benefits of Kotak NETC FASTags:

Seamless and contactless digital issuance journey
Ease of FASTag recharge through the Kotak Mobile Banking App
A do-it-yourself journey through KMBL's website
Balance enquiry through SMS
Video KYC is also available
E-vouchers received by customers on availing Kotak NETC FASTags can be redeemed for e-gift cards from a host of brands. This offer is available till December 31, 2021.*

Shares of Kotak Mahindra Bank Limited was last trading in BSE at Rs. 2020.20 as compared to the previous close of Rs. 1962.95. The total number of shares traded during the day was 127048 in over 8457 trades.

The stock hit an intraday high of Rs. 2043.55 and intraday low of 1936.75. The net turnover during the day was Rs. 254842273.00.

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