Kotak Mahindra Bank's net profit for the three-month ended December 31, 2014 jumped 37 per cent to Rs. 465 crore driven by robust other income and lower provisions during the quarter.
The International Monetary Fund (IMF) has lowered the global growth targets for 2015 and 2016 by 0.3 percent in both years. Its new projections are 3.5 percent and 3.7 percent for the two years respectively. IMF also said that India will be the fastest growing major economy in 2016, with projected GDP growth of 6.5 percent against China's 6.3 percent.