Kolkata or Calcutta is a 350-year-old metropolis which is not only the capital of the Indian state of West Bengal but was also the erstwhile capital city of India. Kolkata is located on the bank of the Hooghly River, and the city is undoubtedly the principal cultural, educational and commercial center of East India. The Port of Kolkata on the Hooghly River is the oldest operating river port in India. The British East India Company had primarily developed the city after a long era of the Nawabi Rule. The native Bengali inhabitants of the city consider Kolkata to be India?s intellectual, artistic and cultural capital. Often called the "City of Joy," this friendly city and its friendlier people are extremely passionate about their culture and heritage, Tagore, politics and literature. Kolkata experiences a hot and sultry summer and a moderately cold winter. The city celebrates almost every Indian festival and gets especially decked up in autumn during the Durga Puja. A typical street in Kolkata consists of distinctively close-knit neighborhoods, freestyle intellectual exchanges, old yellow ambassador taxis, street food joints and sweet shops. North Kolkata hosts the older neighborhoods with huge old-fashioned houses and narrow streets, whereas South Kolkata is home to the posh and upscale Bengalis. Central Kolkata has the central business district; East Kolkata is the new and upcoming area of the city that is randomly developing.
In February 2003, the RBI gave the license to Kotak Mahindra Finance Ltd to carry on banking business. The head office of the Kotak Mahindra, an Indian private sector bank, is in Mumbai, Maharashtra. It provides banking products and financial services for corporate and retail customers and specialized subsidiaries in the areas of life insurance, investment banking, general insurance, and wealth management.The Bank has 1,369 branches across 689 locations and 2,163 ATMs in the country, as of 31 March 2017. In 2018, it became the second largest private bank in India by market capitalization after the HDFC Bank. Uday Kotak established the Kotak Mahindra Bank which became a financial services conglomerate. The Reserve Bank of India (RBI) provided the banking licence to Kotak Mahindra Finance Ltd (KMFL), the Groups flagship company in February 2003. The KMFL became the first non-banking finance company in India to be converted into a bank ? Kotak Mahindra Bank Limited (Kmb)ltd.In a study published in February 2014 by Brand Finance Banking 500, KMBL was ranked 245th among the worlds top 500 banks with valuation of around half a billion dollars and brand rating of AA+. The Kotak Bank acquired ING Vysya Bank in a deal valued at ?15,000 crore in 2015. Total employment jumped to almost 40,000, and the count of branches reached 1261 with the merger. After the merger,the ING Group, which controlled ING Vysya Bank, owned a 7% share in Kotak Mahindra Bank.