Question
Which Bank launched purely digital saving account
‘811’, and aims doubling user base to 16 million?Solution
Private sector lender Kotak Mahindra Bank announced a strategy to double its existing customer base to 16 million in the next 18 months. A key component of this strategy would be a purely digitally-enabled savings account feature, which the bank calls ‘811’ in a nod to the government’s November 8 decision to demonetise high-value currency notes and push for a less-cash economy.
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