Debit card services will be closed for some time
The bank has informed its customers today through email that some services of Kotak Mahindra Bank Debit Card / Spendz Card will not work on Sunday, due to maintenance work, these services will not be able to be used for about 6 hours.
If you are in Kotak Mahindra Bank (Kotak Mahindra Bank) Important information for you if you are a debit card holder. The bank has said that the services of the bank’s Debit / Spendz card will be affected for some time on May 15 and customers will not be able to take advantage of special services during this period. The bank has informed that due to maintenance work, the debit card ( Debit card) These services related to it are being kept closed. Maintenance services by banks from time to time (maintenance activity) is a common part of the process and during this time banks keep some services closed, so that the work can be completed properly. The bank has also released its results this month and its profit has increased by 65 percent as compared to last year.
Which services will be affected
The bank has informed its customers today through email that some services of Kotak Mahindra Bank Debit Card / Spendz Card will not work from midnight on May 15 till 2.30 am and thereafter from 3.30 am to 6 pm. , POS, payment tokenization, cardless cash withdrawal, PIN related services, blocking or unblocking of cards, etc. This effect on services is due to the maintenance work being done by the bank in its system. In an email sent by the bank, it has been said that the maintenance process will continue in the bank’s system in two phases which will be done on May 15 from midnight to 2.30 am and from 3.30 to 6 pm.
65% increase in profit
According to the results of this month, Kotak Mahindra Bank’s profit during the March quarter has increased by 65 percent to Rs 2,767 crore, compared to the previous year. A year ago, the bank had made a profit of Rs 1,682 crore. The asset quality of the bank improved during the quarter as compared to last year. At the same time, there has been an improvement in the net interest income, net interest margin of the bank as compared to last year. Along with the results, the bank has also announced a dividend of Rs 1.1 to its investors. According to the bank, the net interest income of the bank has increased by 18 percent to Rs 4,521 crore in the March quarter compared to the previous year. The bank’s NII stood at Rs 3,843 crore in the same quarter last year. Net interest income is the difference between the interest income earned on loans disbursed by the bank and the interest paid on deposits. While there has been an increase in Net Interest Margin, NIMs have increased from 4.39 percent to 4.78 percent as compared to last year. Along with this, the asset quality of the bank has also improved. Gross NPAs came down to 2.34 percent in the March quarter. Earlier, Gross NPAs were at 2.71 percent in the December quarter and whereas in the March quarter of last year, the Gross NPAs were at 2.71 percent, Net NPAs have also improved from 1.21 percent to 0.64 percent.
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