Transactions worth Rs 4,800 crore happened on Kotak Mahindra Bank's mobile channels in the month of December, Shanti Ekambaram, president of consumer banking said in an analyst call. During the period of demonetization (comparing numbers from October 2016 to December 2016), the bank saw a 108% increase in first time logins on their mobile banking app. For net banking, it saw a 52% growth in first-time logins. Cards: During the demonetization period, the bank saw an 183% growth in 90-day dormant activation cards. It also saw an 86% growth in unique active cards. The number of transactions on debit cards grew 188% and the value of transactions increased 140%. For credit cards, the number of transactions increased 48% and the value of the transactions increased 31%. No absolute numbers were provided. Mobile banking: For the demonetization period, mobile banking saw an increase of 50% in the number of transactions and 52% rise value of transactions. During the quarter (Q3Fy17), mobile banking saw a jump of an 119% YoY increase in terms of volumes (number of transactions) and a 161% increase in terms of value (amount of money which was processed). It added that mobile banking usage was more than 3 times than that of net banking. The bank said 51% of mobile banking customers use only the mobile app. Deposits and loans: In Q3Fy17, Kotak Mahindra Bank said that 55% of its recurring deposits were sourced digitally and over 60% of its term deposits were obtained digitally. Term deposits, which includes both…
