Latest news with #KotakMahindra
Bloomberg
09-06-2025
- Business
- Bloomberg
Veteran Kotak Fund Manager Lakshmi Iyer Set to Join Bajaj Group
Lakshmi Iyer, a veteran fund manager at India's Kotak Mahindra Group, has quit after over twenty years at the firm, people familiar with the matter said. Iyer was chief executive officer of investments and strategy at Kotak Alternate Asset Managers Ltd. She will be joining Bajaj Finserv Ltd., the people said.
Bloomberg
05-06-2025
- Business
- Bloomberg
Indians Used to Outsized Returns, Says Kotak Mahindra's Nilesh Shah
Indian investors have grown accustomed to outsized returns due to the prolonged bull run, warping their expectations, says Nilesh Shah, the Managing Director of Kotak Mahindra Asset Management. Speaking at Bloomberg's Where To Invest event in Mumbai, Shah highlighted the need for more realistic outlooks amid shifting market dynamics. (Source: Bloomberg)
Economic Times
01-06-2025
- Business
- Economic Times
HDFC Bank, Axis Bank, American Express, Kotak Mahindra Credit Card changes June 2025: Know what is what, how it impacts your cashback, reward points
In June 2025, major banks like HDFC, Axis, Kotak Mahindra, and American Express are revising credit card terms. These changes impact airport lounge access, cashback, fuel rewards, and fee waivers. Tired of too many ads? Remove Ads HDFC Bank credit card: Airport lounge access changes from June 10, 2025 Kotak Mahindra changes from June 1, 2025 Tired of too many ads? Remove Ads Axis Bank credit card changes from June 20, 2025 American Express Gold Charge changes from June 12, 2025 In June 2025, several major banks are set to revise their credit card terms and conditions. This will affect everything from how rewards and fee waiver on spending are calculated to airport lounge access, cashback benefits , and even fuel rewards. These changes could directly impact how you earn and redeem benefits on your credit you're a cardholder with HDFC Bank Kotak Mahindra or American Express, here's what's changing, and from when in June Bank is changing its terms and conditions of two credit cards - Tata Neu Infinity and Tata Neu Plus from June 10, 2025. Going forward, These credit card holders will not be able to swipe their cards directly at airport lounges for entry. Instead, HDFC will issue lounge access vouchers to eligible customers based on quarterly spending milestones. This means customers must meet minimum spending thresholds each quarter to unlock airport lounge access June 1, 2025, Kotak Mahindra Bank will revise multiple charges on its credit cards offering. The changes include new fees for failed standing instructions, dynamic currency conversion (DCC), and transactions involving utility bills, education payments, wallet loading, skill-based gaming, and fuel purchases. Additionally, the method for calculating the Minimum Amount Due (MAD) on outstanding balances will be Read: Kotak Mahindra Credit card changes from June 1, 2025 Axis Bank is changing terms and conditions for two of its credit cards - Flipkart Axis Bank Credit Card and REWARDS Credit Card. The changes will be effective from June 20, Axis Bank Credit Card holders will see an increase in cashback benefits on Myntra purchases but will lose the complimentary airport lounge access — a significant change for frequent the REWARDS Credit Card, Axis Bank is introducing a revised approach to spend exclusions, meaning not all purchases will count towards earning reward points. The criteria for annual fee waivers will also become stricter, likely requiring higher annual Read: No more airport lounge access in this Axis Bank Credit Card from June 20, 2025 American Express is also updating the rewards policy for the Gold Charge Card starting June 12, 2025. As per the new rules, fuel purchases — including petrol, diesel, and CNG from Oil Marketing Companies (OMCs) — will no longer earn Membership Rewards points for American Experess Card holders. For credit cardholders who regularly use their Amex Gold Card for fueling, this change reduces the overall reward-earning potential and may influence their future payment preferences. According to the website, 'Effective 12 June 2025, you will not earn Membership Rewards® point on Fuel payments via Gold Charge card. Fuel includes petrol, diesel, CNG from Oil Marketing Companies (OMCs).'
Time of India
31-05-2025
- Business
- Time of India
HDFC Bank, Axis Bank, American Express, Kotak Mahindra Credit Card changes June 2025: Know what is what, how it impacts your cashback, reward points
In June 2025, several major banks are set to revise their credit card terms and conditions. This will affect everything from how rewards and fee waiver on spending are calculated to airport lounge access, cashback benefits , and even fuel rewards. These changes could directly impact how you earn and redeem benefits on your credit cards. If you're a cardholder with HDFC Bank , Axis Bank , Kotak Mahindra or American Express, here's what's changing, and from when in June 2025. HDFC Bank credit card: Airport lounge access changes from June 10, 2025 HDFC Bank is changing its terms and conditions of two credit cards - Tata Neu Infinity and Tata Neu Plus from June 10, 2025. Going forward, These credit card holders will not be able to swipe their cards directly at airport lounges for entry. Instead, HDFC will issue lounge access vouchers to eligible customers based on quarterly spending milestones. This means customers must meet minimum spending thresholds each quarter to unlock airport lounge access benefits. HDFC Bank credit card airport lounge access change from June 10, 2025 Kotak Mahindra changes from June 1, 2025 From June 1, 2025, Kotak Mahindra Bank will revise multiple charges on its credit cards offering. The changes include new fees for failed standing instructions, dynamic currency conversion (DCC), and transactions involving utility bills, education payments, wallet loading, skill-based gaming, and fuel purchases. Additionally, the method for calculating the Minimum Amount Due (MAD) on outstanding balances will be updated. Live Events Also Read: Kotak Mahindra Credit card changes from June 1, 2025 Axis Bank credit card changes from June 20, 2025 Axis Bank is changing terms and conditions for two of its credit cards - Flipkart Axis Bank Credit Card and REWARDS Credit Card. The changes will be effective from June 20, 2025. Flipkart Axis Bank Credit Card holders will see an increase in cashback benefits on Myntra purchases but will lose the complimentary airport lounge access — a significant change for frequent travelers. For the REWARDS Credit Card, Axis Bank is introducing a revised approach to spend exclusions, meaning not all purchases will count towards earning reward points. The criteria for annual fee waivers will also become stricter, likely requiring higher annual spends. Also Read: No more airport lounge access in this Axis Bank Credit Card from June 20, 2025 American Express Gold Charge changes from June 12, 2025 American Express is also updating the rewards policy for the Gold Charge Card starting June 12, 2025. As per the new rules, fuel purchases — including petrol, diesel, and CNG from Oil Marketing Companies (OMCs) — will no longer earn Membership Rewards points for American Experess Card holders. For credit cardholders who regularly use their Amex Gold Card for fueling, this change reduces the overall reward-earning potential and may influence their future payment preferences. According to the website, 'Effective 12 June 2025, you will not earn Membership Rewards® point on Fuel payments via Gold Charge card. Fuel includes petrol, diesel, CNG from Oil Marketing Companies (OMCs).'
Khaleej Times
22-05-2025
- Business
- Khaleej Times
Dubai's Emirates NBD eyes majority stake in India's IDBI bank after RBI approval
Dubai's largest lender, Emirates NBD, has gained a significant edge in its pursuit to acquire a majority stake in IDBI Bank, a prominent Indian lender, following the Reserve Bank of India's (RBI) "in-principle" approval to establish a wholly-owned subsidiary in India. This strategic move enhances Emirates NBD's position as it competes with Canada's Fairfax Financial Holdings and India's Kotak Mahindra Bank to secure a 60.7 per cent stake in IDBI Bank, which is currently held by the Indian government (45.48 per cent) and the Life Insurance Corporation of India (49.24 per cent). The RBI's approval allows Emirates NBD, which operates branches in Chennai, Gurugram, and Mumbai, to convert its existing operations into a wholly-owned subsidiary. Banking analysts highlight that this structure ring-fences a foreign bank's local operations, enabling it to operate on par with domestic banks. While major foreign players like HSBC and Standard Chartered have avoided this model due to dual capital requirements — infusing capital into the subsidiary and holding additional capital against the investment — smaller lenders like DBS Bank and State Bank of Mauritius have successfully adopted it to expand in India. For Emirates NBD, this approval underscores its commitment to deepening its footprint in India's rapidly growing banking sector. In August 2024, Emirates NBD was shortlisted alongside Fairfax Financial and Kotak Mahindra Bank to bid for IDBI Bank as part of the Indian government's broader push to privatise state-owned banks and attract foreign investment. India's banking sector, with its robust growth and vast market potential, has drawn increasing interest from global financial institutions. Emirates NBD's bid reflects its strategic ambition to capitalise on these opportunities, with the outcome expected to shape IDBI Bank's future and influence India's banking privatisation landscape. The UAE lender's financial strength bolsters its bid. In the first quarter of 2025, the bank reported a 56 per cent surge in profit before tax to Dh7.8 billion, driven by strong lending, an improved deposit mix, and new product offerings. Its balance sheet crossed the Dh1 trillion mark, fuelled by a vibrant regional economy, with deposits rising 5.0 per cent, including a record Dh27 billion increase in low-cost current and savings accounts. Loan growth reached Dh18 billion, with over half attributed to its expanding international network. IDBI Bank, the acquisition target, reported a 26 per cent increase in net profit to Rs20.51 billion for the March quarter of FY25, up from Rs16.28 billion the previous year. Total income grew to Rs90.35 billion from Rs78.87 billion, reflecting its strong operational base. However, the bank has faced challenges, including asset quality issues and regulatory scrutiny, making its privatisation a critical step toward injecting capital and expertise to enhance competitiveness. Emirates NBD's extensive experience across the Middle East and North Africa, coupled with its track record in managing large-scale acquisitions, positions it as a formidable contender. Fairfax Financial, a Canadian investment firm, aims to expand its Indian financial market presence, while the LIC-led consortium leverages significant local expertise. The bids will be evaluated based on financial stability and strategic vision, with Emirates NBD's operational excellence giving it a competitive edge. The privatisation of IDBI Bank aligns with India's goals of improving public sector efficiency and encouraging private investment. A successful acquisition is expected to strengthen IDBI Bank by fostering innovation and best practices, contributing to the broader health of India's banking sector. As the bidding process advances, industry observers are keenly watching how Emirates NBD and its competitors address IDBI Bank's challenges and capitalise on its opportunities. The outcome will likely set a precedent for future privatisation efforts, marking a pivotal moment for India's financial landscape.
