Kotak Mahindra Bank Signs MoU with Prasar Bharati to offer salary accounts

Kotak Mahindra Bank (KMBL) has become the first private sector bank to offer its Corporate Salary Account proposition to employees of public broadcaster Prasar Bharati. A Memorandum of Understanding (MoU) to this effect was signed between KMBL and Prasar Bharati at Prasar Bharati House, New Delhi. The ceremony was chaired by D.P.S. Negi, Member (Finance) Prasar Bharati and the MoU was signed by Jagat Singh Chauhan, Deputy Director (General Admin), HOO, Prasar Bharati and Anirudh Maheshwari - Senior Executive Vice President & Business Head - Corporate Salary, Kotak Mahindra Bank.

The Kotak Salary Account will provide access to a host of products and services from KMBL, including a zero-balance salary account with free unlimited ATM transactions on all VISA ATMs and Anywhere Banking across its 1,622 branches and 2,601 ATMs.

Virat Diwanji, Group President - Retail Liabilities & Branch Banking, Kotak Mahindra Bank said, "With its various channels and radio stations, Prasar Bharati reaches every nook and corner of the country. It is our privilege to be their banker. The Kotak Salary Account provides a range of privileges with a host of personalised offerings, designed according to the requirements of Prasar Bharati employees."

Benefits of Kotak Salary Account designed especially for Prasar Bharati Employees:

• Complimentary personal accident insurance cover on Visa/Master/RuPay Platinum Debit Card
• Personal accidental death cover of up to Rs 50 lakh
• Air accident death cover of Rs. 50 lakh
• Lost card liability insurance of up to Rs. 3.50 lakh
• Purchase protection of up to Rs. 1 lakh
• Lost baggage insurance of up to Rs. 1 lakh

Shares of Kotak Mahindra Bank Limited was last trading in BSE at Rs. 1818.25 as compared to the previous close of Rs. 1828.70. The total number of shares traded during the day was 76428 in over 3908 trades.

The stock hit an intraday high of Rs. 1842.70 and intraday low of 1810.30. The net turnover during the day was Rs. 139854244.00.

Source : Equity Bulls

Keywords

KotakMahindraBank INE237A01028 KOTAKBANK CorporateSalaryAccount PrasarBharati