Kotak Mahindra is 25. And we are jacked!

If they were determined to share their past with us, the least they ought to have done was to make the recounts funny and interesting. Instead, they have saddled us with most boring pieces of adverts ever

I really don't know what I did when I was 25. And even if I did, I can't put it out here-it's a family site, you see. Well, the reason I say this is because Kotak Mahindra has turned 25. And has been asking all sorts of people this question as part of its celebratory campaign.

And they have released a zillion commercials where people are telling us stuff they did whey they were 25. One uncle reports he used to sport a ponytail. Another executive boasts he used to enjoy vada pav. A child declares she will make more money than dad when she turns 25. Another senior citizen says when he was 25 he used to chat with people face to face, and not on 'facebook'. Another dude says he lost his
passport when he went to Bangkok at the age of 25. And this boring charade goes on.

This must be one of the most juvenile and yawny ad campaigns of 2010. There are some very serious problems with this idea and its execution. Here goes.

One, if Kotak Mahindra is 25 years old, what's in it for me, the consumer? How does that change my life? Will every investor have his/her account credited with Rs25K bonus? They could simply have had a grand office party where all the staffers have a rocking time. Why tell that to us? This is nothing more than the paid Page 3 private party pictures that appear in colour supplements of newspapers.

Two, the approach. So okay, you turned 25. And let's assume you are very happy and want to share the joy. Tell us what special deeds you've done in all these years so we can be impressed. What financial milestones have you achieved? What's the unique thing Kotak Mahindra does? That other banks don't do? In short, we are happy for you, but please tell us why we must bank with you. Nothing of that sort gets answered. All we have is some people telling us stuff they did when they turned 25. What's that gotta do with the bank? A totally senseless approach.

Thirdly, even assuming despite all this Kotak Mahindra wanted to have a public bash, and was determined to share their past history with us, the least they ought to have done was to make the recounts very witty, funny and interesting. So if nothing else, the least that could have happened was we smiled a bit. But even that was not to be. They have saddled us with most boring pieces of adverts ever.

By the way, dear Kotak Mahindra, I do now recall what I did when I was 25. I smashed the window pane of a bank whose staffers were full of themselves and cared two hoots for their customers. Happy 25!



Rajan Manchanda

6 years ago

Money Life December 29, I would like to share my past and present experience with Kotak Mahindra Bank Ltd Wealth Management team. Or should I say Wealth Destruction team.I have been duped so no celebrations with them at 25.
(Space insufficient for comments.Pictures being mailed to Money Life)

Tuesday’s Market Preview: Flat-to-positive opening likely

The Indian market is likely to see a flat-to-positive opening today on unassuming global cues. Wall Street, which opened after an extended Christmas holiday, closed flat on Monday as a blizzard moving across the northeastern region dampened investor sentiment. Markets in Asia were mixed in early trade on Tuesday on mixed economic data from Japan. The SGX Nifty was up 23 points at 6,030.50, up from its Monday’s close of 6,007.50.

The market opened with good gains on Monday, despite mixed cues from its Asian counterparts. The market touched its day's high in mid-morning trade, luring investors to book profits at higher prices, and this resulted in the indices moving gradually lower. As the Chinese market closed down, the Indian benchmarks turned into negative territory in the post-noon session. The market ventured into the green for a short time in late trades, but got bogged down by selling pressure, and ended marginally lower.

The Sensex ended 44.73 points (0.22%) lower at 20,028.93 while the Nifty settled below the 6,000-mark at 5,998.10, losing 13.50 points (0.22%) over its previous close.

Markets in the US closed steady on Monday as a blizzard moving across the northeastern region dampened investor sentiments. However, stocks recovered from an early decline led by financials. Meanwhile, retail sales, excluding autos, rose to $584 billion from 5th November through 24th December from a 4.1% gain last year, according to MasterCard Advisors’ SpendingPulse, which measures retail sales by all payment forms. The numbers include sales made over the web.

The Dow fell 20.73 points (0.18%) at 11,552.76. The S&P 500 added 0.74 points (0.06%) at 1,257.51. The Nasdaq rose by 4.25 points (0.16%) at 2,669.85.

Markets in Asia were mixed in early trade on Tuesday on mixed economic cues from Japan. Factory output in November rose 1% from October, when it fell 2%, according to Trade Ministry data released today. Consumer prices in Japan fell 0.5% in November, down for the 21st month. The development might prompt the central bank to revise its price projections.

The Jakarta Composite gained 0.19%, the KLSE Composite rose 0.65%, the Straits Times added 0.15% and the Seoul Composite surged 0.81%. On the other hand, the Shanghai Composite declined 0.78%, the Hang Seng fell 0.89%, the Nikkei 225 was down 0.38% and the Taiwan Weighted shed 0.03% in early trade. The SGX Nifty was up 23 points at 6,030.50, up from its Monday’s close of 6,007.50.

The Reserve Bank of India on Monday announced a reduction in the Statutory Liquidity Ratio (SLR), requirement for lenders to keep a portion of deposits in government securities, cash and gold, by one percentage point to 24% for regional rural banks (RRBs).

This is in line with the similar cut announced in the monetary review for banks earlier this month as part of its measure to bring more liquidity into the system. The new requirement for the RRBs is effective from 18th December.


Inflation to come down to 5.5% by March: Rangarajan

Chandigarh: Inflation is expected to come down to 5.5% by March 2011, reports PTI quoting Prime Minister's Economic Advisory Council chairman C Rangarajan.

Besides, the PM panel also sees the country achieving a gross domestic product (GDP) growth rate between 8.5% and 9% in the current fiscal.

"I think by March (2011), we can expect (WPI) inflation to come down to 5.5%," Mr Rangarajan said on the sidelines of the 93rd annual conference of Indian Economic Association here.

"I think any level of inflation beyond 5% (threshold level of inflation) is uncomfortable," he asserted.

The wholesale price index-based inflation stood at 7.48% in November against 8.58% in October while food inflation shot up to 12.13% for the week ended 11th December.

Asked about the possibility of hardening of interest rate in January in the wake of double digit food inflation, Mr Rangarajan said it would depend upon how inflation behave in coming weeks.

"It (rate hike) all depends upon how overall inflation behave in coming weeks ... I think if there is further fall in WPI inflation then the monetary policy would remain as it is now ... they (RBI) have not made any change in policy rate ... we need to watch the behaviour of overall inflation before monetary authorities can take any decision," he said while asserting that there was a possibility of moderation in inflation even though food inflation have shown rise.

Asked about the GDP growth, Mr Rangarajan said against the forecast of 8.5%, the country could achieve higher growth. "We had forecast the GDP of 8.5% we will achieve 8.5%... perhaps we will do better than that ... I expect growth rate between 8.5% and 9%," he said.

On being asked about when liquidity situation would ease, he said that liquidity situation would improve in the last quarter of the current fiscal on the back of increase in public expenditure and RBI's recent measures.

"RBI has already taken some measures to ease liquidity ... to some extent liquidity was strained because of payment of taxes ... I think liquidity situation will considerably improve in last quarter of this fiscal when public expenditure rises with measures taken by RBI," he said.

RBI had kept repo and reverse repo rate unchanged and reduced statutory liquidity ratio from 25% to 24% in last mid quarter review of policy.

Mr Rangarajan said though the economy has the potential to grow at 9%, but there were two areas of concerns which needed to be looked at.

"Looking at constraints on growth, there are two sectors which must be focused on first is agriculture and second is infrastructure particularly power," he said.

"Agriculture growth is necessary important from the point of view of reducing poverty in the country and for a more balanced regional development and for food security. In the field of infrastructure, power generation is important and we need to add capacities of sufficient order to enable economy to grow at 9%," he said.

He further said that the Indian economy would become middle income country by 2020.


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