SAFA Award for Kotak Mahindra Bank

India's leading private sector bank, Kotak Mahindra Bank's annual report for the year 2010, has been awarded the 'Certificate of Merit' in the banking sector, said a statement. The award was conferred by the committee of the South Asian Federation of Accountants (SAFA), an apex body of South Asian chartered accountants, for improvement in transparency, accountability and governance in the published annual accounts among the entries form the entire South Asian region. TV Raghunath, the head of strategy of Kotak Mahindra Group India, received the award at a ceremony at Bangabandhu International Conference Centre in the city Tuesday. Kotak Mahindra working for 25 years is one of the leading financial sector players with presence in entire range of financial services including banking stock broking, merchant banking, mutual fund, life insurance and commodity exchange. Kotak Mahindra Bank is having 325 branches in India and has an asset base of US$17 billion.