Kotak Mahindra Bank Launches App To Open Accounts


Kotak Mahindra Bank has launched an application “Kotak Now” that would allow new customers to open an account in a simpler and cost-effective manner. This is for the first time that a domestic private sector lender has come up with such a facility, where a customer can open a bank account using its application.

No physical interaction or biometric verification is required and the account opening requires only a few minutes. Download the Kotak Now app, upload your KYC documents (PAN card, and either Aadhaar card or passport), and the image of the signature. Then, you are required to put in a few personal details, and the Customer Relationship Number (CRN) and Account Number are generated.The account is activated after a video call with a bank executive.
So let’s discuss some questions related to this post:
1. Name the bank, which has launched the country’s first digital account opening process on mobile?
Source – The Hindu

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