What do you mean by FMP (Fixed Maturity Plans) in Kotak Mahindra Bank would you plz let me know about the same , as my one of the friend asking me about the same here ??

[prince karak]

Kotak Mahindra Bank is an Indian private sector bank headquartered in Mumbai, Maharashtra, India.

FMP (Fixed Maturity Plans) are the equivalent of a fixed deposit in a bank, with a little difference. Kotak Mahindra Bank FMP (Fixed Maturity Plans) offers you a series of Fixed Maturity Plans where you can generate returns through investments in debt and money market instruments.

Bank profile :

Type Public

Traded as BSE: 500247

NSE: KOTAKBANK

Industry Banking, financial service

Founded 1985 (as Kotak Mahindra Finance Ltd)

Headquarters Mumbai, India

Key people Uday Kotak (founder & Executive Vice Chairman & MD)

Dipak Gupta (Joint MD)

Jaimin Bhatt (President & Group CFO)

Shanti Ekambaram (President - Consumer Banking)

KVS Manian (President - Corporate, Investment & Institutional Banking)

Mohan Shenoi (Chief Operating Officer)

Gaurang Shah (President - Asset Management, Insurance and International Business)

D Kannan (Group Head - Commercial Banking)

Arvind Kathpalia (President & Group Chief Risk Officer)

Products Deposit accounts, loans, investment services

Revenue 27,974.52 crore (US$4.4 billion) (2016)

Net income 3,431.12 crore (US$530 million) (2016)

Total assets US$15.8 billion (2015)

Number of employees 46,500+ (2016)