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Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. It is India's third largest private sector bank by market capitalisation after HDFC Bank and ICICI Bank. As of December 2022, the bank has 1752 branches and 2814 ATMs.

In 1985, Uday Kotak founded Kotak Capital Management Finance as an investment and financial services company, with a loan of ₹30 lakh from family and friends. In 1986, Anand Mahindra and his father Harish Mahindra invested ₹1 lakh in the company and it was subsequently renamed as Kotak Mahindra Finance. The company was initially engaged in bill discounting, along with lease and hire purchase activities.

In the early 1990s, the company started car financing and investment banking services, and expanded its operations overseas. In 1996, car financing company Kotak Mahindra Primus was incorporated as a 60:40 joint venture between Kotak Mahindra Finance and Ford Credit International. In the same year, Kotak Mahindra Finance hived off its investment banking division into a new company, Kotak Mahindra Capital, started in partnership with Goldman Sachs.

In 1998, Kotak Mahindra Finance started its mutual fund arm called Kotak Mahindra AMC. In 2001, OM Kotak Mahindra Life Insurance was established as a 74:26 joint venture between Kotak Mahindra Finance and Old Mutual.

In February 2003, Kotak Mahindra Finance received a banking licence from the Reserve Bank of India. With this, it became the first non-banking finance company in India to be converted into a bank. Kotak Mahindra Finance was then renamed as Kotak Mahindra Bank. At the time, Uday Kotak had 56% stake in the company while Anand Mahindra held 5%.

In 2005, Kotak Mahindra Bank acquired Ford Credit's 40% stake in Kotak Mahindra Primus, making it a wholly-owned subsidiary of the group. Kotak Mahindra Primus was subsequently renamed as Kotak Mahindra Prime. In 2006, Kotak Mahindra Bank bought out Goldman Sachs' 25% stake in Kotak Mahindra Capital for ₹210 crore (US$46.35 million) and 25% in Kotak Securities for ₹123 crore (US$27.15 million), turning both companies into its wholly-owned subsidiaries.

In 2014, Kotak Mahindra Bank acquired a 15% stake in Multi Commodity Exchange (MCX) from Financial Technologies Group for ₹459 crore (US$75.21 million) to become the company's largest shareholder.

In 2014, Kotak Mahindra Bank announced the acquisition of ING Vysya Bank in a deal valued at ₹15,000 crore (US$2.34 billion). With the merger completed in 2015, Kotak Mahindra Bank had almost 40,000 employees, and the number of branches reached 1,261. After the merger, ING Group, which controlled ING Vysya Bank, obtained a 6.5% stake in Kotak Mahindra Bank.

In 2015, Kotak Mahindra General Insurance, a wholly-owned subsidiary of Kotak Mahindra Bank, started operations after receiving IRDAI's approval. In 2016, Bharti Airtel and Kotak Mahindra Bank started a 80:20 joint venture called Airtel Payments Bank.

In 2016, Kotak Mahindra Bank acquired BSS Microfinance for ₹139.2 crore (US$20.72 million).

In March 2017, Kotak Mahindra Bank launched an online savings account called Kotak 811, named after the date Prime Minister Narendra Modi had announced demonetisation in the previous year, which according to Uday Kotak was "the day that changed India." Kotak 811 helped the bank double its number of customers by September 2018.

In April 2017, Kotak Mahindra Bank acquired Old Mutual's 26% stake in Kotak Mahindra Old Mutual Life Insurance for ₹1,292 crore (US$198.4 million), making the life insurance company its wholly-owned subsidiary.

In 2021, Kotak Mahindra Bank sold its 8.57% stake in Airtel Payments Bank to Bharti Enterprises for ₹295 crore (US$39.81 million). In the same year, Kotak Mahindra Group acquired the vehicle financing portfolio of Volkswagen Finance India and passenger vehicle financing portfolio of Ford Credit India. In 2022, it acquired the agriculture and healthcare equipment financing portfolio of DLL India.

In 2023, Kotak Mahindra Bank acquired microfinancier Sonata Finance for ₹537 crore (US$67 million).

Major subsidiaries of the Bank include

In a study by Brand Finance Banking 500 published in February 2014 by Banker magazine, KMBL was ranked 245th among the world's top 500 banks with a brand valuation of around US$481 million and brand rating of AA+.

In 2020, Kotak pledged to donate ₹50 crore to the PM CARES Fund to fight against the COVID-19 pandemic in India.

An ACH is an electronic fund transfer made between banks and credit unions across what is called the Automated Clearing House network. ACH is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments.

Payments made through ACH transfers may be known as ACH direct payments. Direct payments may include the payments you make for taxes, loans, membership, recurring investment transactions, and more. On the other hand, receiving through ACH transfers may be known as ACH direct deposits. These transactions may include pensions, refunds, dividends, interest payments, reimbursements, and more.

An Automated Clearing House (ACH) transaction takes place between two banks.

One, from where the debit transaction originates, and the second, with the receiving bank where the credit entry of the same reflects. To successfully complete your transaction, some banks may levy ACH charges. Meaning a fee may be involved, but not all banks levy these charges.

It is an electronic transfer that takes place when you put in a request with your bank. These can only be initiated by the individual or entity that is making the payment, i.e., someone who wants to transfer and does not receive funds. Additionally, the type of transaction affects the applicable ACH charges. Meaning, not all ACH transactions carry a charge. ACH deposits do not have any charges, whereas ACH direct payments may come with nominal charges.

The full form of ACH in banking is an Automated Clearing House. It is different from ECS in the following ways.

ACH transfers can make transactions faster and more convenient. Primarily, there are 2 types of ACH transfers - direct deposits and direct payments. Direct deposit via ACH is used to receive payments directly. On the other hand, direct payments are used to regularly make payments to the payee.

Depending on the type of ACH, the objectives vary. ACH direct payments and ACH direct deposits have different objectives.

eACH is typically an electronic ACH that allows the use of online portals and electronic transfers to ensure the success of a transaction. eACH can be used to either debit or credit recurring payments. ACH eMandate is a payment service brought about by NPCI (National Payments Corporation of India) to collect recurring payments.

Get the ACH form to start with the ACH mandate registration process. Then, fill up the required fields on the form. Out of a total of 19 fields, 14 of them are mandatory, such as IFSC code, bank account number, IIN number, MICR number, etc. So begin by filling them out first. Once you fill in all the information, ensure to submit the form to begin directly receiving transfers into your bank account.

Using ACH has several features and benefits. Let us have a look at a few of them.

In the current times, several large-funded transactions take a few days to be successfully transferred. In most cases, checks are used to receive, send, and process payments. However, this process takes plenty of time. In contrast, ACH transfers take a matter of a few seconds to complete a fund transfer.

ACH payments are easy to initiate and process compared to other modes of payment. These payments can also be processed automatically with pre-authorization. For businesses to automatically receive and review payments, in contrast, to automatically review checks.

While many forms of payments, such as checks and DDs, are prone to security breaches, ACH is comparatively safer by leaps. As digital security measures continue to strengthen by the day, ACH provides more security when it comes to funding transfers.

While crediting or debiting funds, it is undeniable that the fees and charges that come along are not looked forward to. ACH has lower processing fees and service charges compared to most other methods of fund transfer.

It is a common fact that we are prone to human error. While making manual entries to process funds, it can be easy to make mistakes leading to an unsuccessful transaction or transfer. So, reducing the physical handling of payments through ACH can improve accuracy. Moreover, with automated payments, there is less room for error as there is no human intervention.

The ACH form helps with the ease of transactions made through ACH and ensures that the funds are directly credited to or debited from the bank account. A few important details have to be filled in the ACH form, such as the account number, IFSC code, MICR number, customer ID, and more. Once these details are filled in and the form is submitted, the funds will be directly transferred into your bank account.

Several partner banks, such as Axis bank, Citi bank, RBL, HDFC, SBI, etc., offer ACH services. To begin filling up the ACH form with these banks, you could either visit the bank to get the form physically or you could go to the bank’s website to download the ACH form. Procure the form, and ensure to accurately fill in the required details such as MICR number, IFSC code, bank account number, phone number, email ID, and more. Once you fill in all of these details, submit the form to receive fund transfers directly to your bank account.