Ambala is a city as well as a municipal corporation located in the district of the same name within the Indian state of Haryana. The city forms the border of Haryana and Punjab and lies close to the state capital Chandigarh. Ambala consists of two sub-areas - the Ambala Cantonment area and the Ambala City are, that are less than a kilometer apart. The twin city has a large base of Indian Army and Indian Air Force within its cantonment area. This city separates the Ganges network from the Indus network and the rivers Ghaggar and Tangri surround it. Ambala plays a pivotal role in local tourism, connecting tourists to Chandigarh, Shimla, New Delhi and Amritsar. Gurudwara Manji Sahib, situated within the city, is a place worth visiting in Ambala. The economy of the city is fuelled by its "Cloth Market" which draws shoppers from surrounding areas. It has a dense cluster of at least 1000 wholesale shops that sell a wide range of cloth items like hand-loom textiles, silk, various kinds of sarees, suitings, shirtings as well as dress material of all types. This market is considered to be the largest cloth trading market in Asia. Most of the residents of Ambala are employed in this business.
Kotak Mahindra Finance Ltd was launched in 1985. Mr. Uday Kotak is the MD & CEO of the bank. In 1990, the bank introduced the auto finance division for financing the passenger cars. In 1991, it established the investment banking division. Indias first gilt fund was launched through Kotak Mahindra Asset Management Company. The Kotak Mahindra Finance Ltd became Indias first non-banking finance company to be converted to a commercial bank. For financing Ford vehicles, the bank took a significant stake in Ford Credit Kotak Mahindra Ltd. The first representative office of Kotak Mahindra was opened in Dubai in 2008. In 2009, the pension fund was launched under NPS. For the digital and social media, the bank has launched innovative solutions such as JIffi and KayPay in the year 2014. The RBI approved the merger of KMFL with ING Vysya Bank in 2015, and Kotak Mahindra Insurance received IRDAI approval for starting its insurance business. In 2017, the bank acquired BSS Microfinance Ltd. Recently the bank has launched Kotak Infrastructure Debt Fund Ltd.