Kotak Mahindra Bank, a financial services provider, drove awareness and increased account holders for India's first downloadable bank account, Kotak 811.

The 811 scheme offers a "completely digital, paperless account opening experience" through Kotak Bank's app in five minutes, executive vice-chairman Uday Kotak said.

Interestingly, more than 50% of 811 Accounts are opened outside banking hours. Kotak 811 offers instant account opening in 3 mins and KYC via video call in 5 mins.

To celebrate the 811 generation, Kotak Mahindra unveiled their new physical debit card and the virtual debit card that comes free upon opening an 811 account will also embody the same design.

Kotak Mahindra Bank recently launched a debit card called #DreamDifferent card. The card is limited edition and linked to the savings bank account called 811 account, which is a virtual account.

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Jay Kotak's comment came shortly after ICICI Bank hiked its minimum balance for savings accounts to ₹50,000. The Kotak 811 co ...

Kotak Mahindra Bank, a private banking company, launched 811, a downloadable digital bank, and promoted it among Indian consumers by encouraging them to embrace diversity.

Nevertheless, the 811 accounts have the potential to see balance accretion at some point but, presently, such accounts cannot be added," he said.