Kotak Mahindra Bank’s Post

#weekendvibes The CEO of a major Mumbai bank got his shoes polished every day from the shoeshine man at the street corner. He would sit on a chair usually reading the Economic Times as he got his shoes polished. One fine morning, the shoeshine man asks the CEO: "What do you think of the stock market situation?" The CEO condescendingly inquires: "Why are you so interested in this subject?" The shoeshine man replies: "I have 200 crore rupees deposited in your bank and I am thinking about investing part of the money in the stock market" The CEO smirkingly says: "Yeah right! What is your name?" Shoeshine man replies: "Asaf Kutty Chacko ” Upon returning to his bank, the bemused CEO asks the Account Manager: "Do we have a customer named *Asaf Kutty Chacko*?" The Manager replies: “We certainly do. He is an esteemed customer! He has 200 crore rupees in his account.” The CEO is shocked! The next day, when getting a shoeshine, the CEO says to shoeshine man: "Mr. Chacko, I want to invite you to be our guest-of-honour at our Board meeting next week and tell us your life story. I'm sure we will learn a lot.” The following week, at the Board meeting, the CEO introduces shoeshine man to the board members: "We all know Mr. Asaf Kutty Chacko, who makes our shoes shine like no one else. But he is also our valued customer with 200 crore rupees in his account. I invited him to share his life story. I'm sure it will inspirational. Please, Mr. Chacko, do tell". Asaf Kutty narrates his life story: "I came to this state 30 years ago as a young boy from Kerala…. I wandered hungry and exhausted in search of a job without success…. Suddenly, I found a coin on the sidewalk and bought some apples…. I had two options: eat the apples to quell my hunger or start a business…. I sold the apples and bought more apples with the money…. This way I started accumulating money… With the saved money, I managed to buy a set of used brushes and shoe polish and started a shoe shine businesss….. I lived frugally and didn't spend any money on fun or worldly trappings. I lived like a monk and saved every paisa I could…. After a while, I managed to buy new brushes, variety of polish and a chair so that my clients could sit comfortably…. I continued living frugally and saving all I could… Then, a few years ago, I was able to purchase this nice corner location from another colleague who decided to retire….. Finally, about three months ago, my brother, who was a drug-dealer in Kochi, passed away and left me 200 crores ….” 🙏🏼 *This is just a campaign to promote reading. Reading stimulates the mind and imagination! So stop listening to unbelievable stories and start reading something of literary merit*.

This week, we're diving into the world of MIDs, also known as Merchant Identification Numbers. But what exactly are they, and why are they important for cross-border payments? Join Indunath Chaudhary- इन्दुनाथ चौधरी, as he breaks down everything you need to know about MIDs. #CrossBorderPayments #MID #BRISKPE #IndunathChaudhary

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#copiedcontentalert The CEO of a major Mumbai bank got his shoes polished every day from the shoeshine man at the street corner. He would sit on a chair usually reading the Economic Times as he got his shoes polished. One fine morning, the shoeshine man asks the CEO: "What do you think of the stock market situation?" The CEO condescendingly inquires: "Why are you so interested in this subject?" The shoeshine man replies: "I have 200 crore rupees deposited in your bank and I am thinking about investing part of the money in the stock market" The CEO smirkingly says: "Yeah right! What is your name?" Shoeshine man replies: "Asaf Kutty Chacko ” Upon returning to his bank, the bemused CEO asks the Account Manager: "Do we have a customer named *Asaf Kutty Chacko*?" The Manager replies: “We certainly do. He is an esteemed customer! He has 200 crore rupees in his account.” The CEO is shocked! The next day, when getting a shoeshine, the CEO says to shoeshine man: "Mr. Chacko, I want to invite you to be our guest-of-honour at our Board meeting next week and tell us your life story. I'm sure we will learn a lot.” The following week, at the Board meeting, the CEO introduces shoeshine man to the board members: "We all know Mr. Asaf Kutty Chacko, who makes our shoes shine like no one else. But he is also our valued customer with 200 crore rupees in his account. I invited him to share his life story. I'm sure it will be inspirational. Please, Mr. Chacko, do tell". Asaf Kutty narrates his life story: "I came to this state 30 years ago as a young boy from Kerala…. I wandered hungry and exhausted in search of a job without success…. Suddenly, I found a coin on the sidewalk and bought some apples…. I had two options: eat the apples to quell my hunger or start a business…. I sold the apples and bought more apples with the money…. This way I started accumulating money… With the saved money, I managed to buy a set of used brushes and shoe polish and started a shoe shine businesss….. I lived frugally and didn't spend any money on fun or worldly trappings. I lived like a monk and saved every paisa I could…. After a while, I managed to buy new brushes, variety of polish and a chair so that my clients could sit comfortably…. I continued living frugally and saving all I could… Then, a few years ago, I was able to purchase this nice corner location from another colleague who decided to retire….. . . . Finally, about three months ago, my brother, who was a drug-dealer in Kochi, passed away and left me 200 crores ….” . . . . This is just a campaign to promote reading. Reading stimulates the mind and imagination! So stop listening to unbelievable stories and start reading something of literary merit. #Gyanwithsmile Have a nice day!!! 😎😄😎😄😎

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Truly inspiring The CEO of a major Mumbai bank got his shoes polished every day from the shoeshine man at the street corner. He would sit on a chair usually reading the Economic Times as he got his shoes polished. One fine morning, the shoeshine man asks the CEO: "What do you think of the stock market situation?" The CEO condescendingly inquires: "Why are you so interested in this subject?" The shoeshine man replies: "I have 200 crore rupees deposited in your bank and I am thinking about investing part of the money in the stock market" The CEO smirkingly says: "Yeah right! What is your name?" Shoeshine man replies: "Asaf Kutty Chacko ” Upon returning to his bank, the bemused CEO asks the Account Manager: "Do we have a customer named *Asaf Kutty Chacko*?" The Manager replies: “We certainly do. He is an esteemed customer! He has 200 crore rupees in his account.” The CEO is shocked! The next day, when getting a shoeshine, the CEO says to shoeshine man: "Mr. Chacko, I want to invite you to be our guest-of-honour at our Board meeting next week and tell us your life story. I'm sure we will learn a lot.” The following week, at the Board meeting, the CEO introduces shoeshine man to the board members: "We all know Mr. Asaf Kutty Chacko, who makes our shoes shine like no one else. But he is also our valued customer with 200 crore rupees in his account. I invited him to share his life story. I'm sure it will be inspirational. Please, Mr. Chacko, do tell". Asaf Kutty narrates his life story: "I came to this state 30 years ago as a young boy from Kerala…. I wandered hungry and exhausted in search of a job without success…. Suddenly, I found a coin on the sidewalk and bought some apples…. I had two options: eat the apples to quell my hunger or start a business…. I sold the apples and bought more apples with the money…. This way I started accumulating money… With the saved money, I managed to buy a set of used brushes and shoe polish and started a shoe shine businesss….. I lived frugally and didn't spend any money on fun or worldly trappings. I lived like a monk and saved every paisa I could…. After a while, I managed to buy new brushes, variety of polish and a chair so that my clients could sit comfortably…. I continued living frugally and saving all I could… Then, a few years ago, I was able to purchase this nice corner location from another colleague who decided to retire….. . . . Finally, about three months ago, my brother, who was a drug-dealer in Kochi, passed away and left me 200 crores ….” . . . . This is just a campaign to promote reading. Reading stimulates the mind and imagination! So stop listening to unbelievable stories and start reading something of literary merit. #Gyanwithsmile Have a nice day!!! 😎😄😎😄😎

Jio Financial Services Limited got 7 lakh penalty by SEBI quashed by SAT 🤯 How? 😱 ✅ Let us look at some important concepts (extracted from the SAT order)- a) “Options” are contracts between the buyer and the seller which gives the buyer a right, but not an obligation, to buy or sell the underlying assets at a stated price on a specified date. b) Options are of two types- i. “Call option” which gives the buyer the right but not an obligation to buy a given quantity of the underlying asset at a given price (Strike Price) on a given future date (Expiry Date). ii. “Put option” gives the buyer the right, but not obligation to sell given quantity of underlying asset at the strike price on the expiry date. ✅ The issue involved- Whether the trades executed by the Appellant on August 8, 2017 and August 10, 2017 were manipulative in nature due to being carried out at a significant discount from the fair value and executed through a mutual arrangement with counter party before hand, thereby violating Section 12 A of SEBI Act along with Regulations 3 and 4 of PFUTP Regulation? ✅ Cases cited- SEBI vs Rakhi Trading Pvt. Ltd. [(2018) 13 SCC 753] was distinguished as the facts were Rakhi Trading (supra) had placed an order to sell options and another entity purchased the same options at the same price within a fraction of a second. The orders matched and within minutes, the trades were reversed. Thus, there was prior meeting of minds between the parties was established. -The execution of trades and reversal with the same counter party which was repeated a number of times. However, there were no such reversal of trades in the Appellant’s case. ✅ In Rakhi Trading Pvt. Ltd. (supra) there was no transfer of beneficial ownership whereas, in the instant case, there was genuine transfer of beneficial ownership. Thus, the decision in Rakhi Trading Pvt. Ltd. (supra) is distinguishable. ✅ Held- 1) A trade cannot be manipulative simply because it is away from the fair value. The fair value is considered as an indicator, but not a measure to hold a trade as manipulative. Without any evidence of mutual arrangement to manipulate the market, the impugned order cannot be sustained and is quashed. 2) The retroactive application of circular issued by NSE dated 28 October, 2022 prescribing a band of +/- 40% to the reference point. #sebi #securitieslaw #securitieslitigation #stockmarket #lawyer #lawstudent

The CEO of a major Mumbai bank got his shoes polished every day from the shoeshine man at the street corner. He would sit on a chair usually reading the Economic Times as he got his shoes polished. One fine morning, the shoeshine man asks the CEO: "What do you think of the stock market situation?" The CEO condescendingly inquires: "Why are you so interested in this subject?" The shoeshine man replies: "I have 200 crore rupees deposited in your bank and I am thinking about investing part of the money in the stock market" The CEO smirkingly says: "Yeah right! What is your name?" Shoeshine man replies: "Asaf Kutty Chacko ” Upon returning to his bank, the bemused CEO asks the Account Manager: "Do we have a customer named *Asaf Kutty Chacko*?" The Manager replies: “We certainly do. He is an esteemed customer! He has 200 crore rupees in his account.” The CEO is shocked! The next day, when getting a shoeshine, the CEO says to shoeshine man: "Mr. Chacko, I want to invite you to be our guest-of-honour at our Board meeting next week and tell us your life story. I'm sure we will learn a lot.” The following week, at the Board meeting, the CEO introduces shoeshine man to the board members: "We all know Mr. Asaf Kutty Chacko, who makes our shoes shine like no one else. But he is also our valued customer with 200 crore rupees in his account. I invited him to share his life story. I'm sure it will inspirational. Please, Mr. Chacko, do tell". Asaf Kutty narrates his life story: "I came to this state 30 years ago as a young boy from Kerala. I wandered hungry and exhausted in search of a job without success. Suddenly, I found a coin on the sidewalk and bought some apples. I had two options: eat the apples to quell my hunger or start a business. I sold the apples and bought more apples with the money. This way I started accumulating money. With the saved money, I managed to buy a set of used brushes and shoe polish and started a shoe shine business. I lived frugally and didn't spend any money on fun or worldly trappings. I lived like a monk and saved every paisa I could. After a while, I managed to buy new brushes, variety of polish and a chair so that my clients could sit comfortably. I continued living frugally and saving all I could. Then, a few years ago, I was able to purchase this nice corner location from another colleague who decided to retire. Finally, about three months ago, my brother, who was a drug-dealer in Kochi, passed away and left me 200 crores ….” 🙏🏼 This is just a campaign to promote reading. Reading stimulates the mind and imagination! So stop listening to unbelievable stories and start reading something of literary merit. Have a nice day 😊

"Ever say to me HAPPY FRIDAY AGAIN you're f**king iced for life" #storytime When broking, a client once told me if I told him "Happy Friday" ever again I would be iced for life. ICED/BOXED/IN THE FRIDGE /BLACKED/LINE OUT: for non-brokers means that you are not going to see any of their prices. Until they decide and you are "out of the fridge". I think that was sometimes my biggest pitfall in broking; that I was maybe too gentle, too bubbly, less about the numbers and more about the relationship. However, weirdly, I do miss it. I miss the adrenaline coursing through my veins when the market was so busy. The pace in which you are closing deals makes you so focused it almost forms a real catharsis. My brain would, in a way, totally switch off any worries or life issues. I was in the moment, focused and pumped. The moments you miss a big deal to a competitor, the big black phone lobbed onto my desk in total frustration. I miss that too. I miss my boys, the good ones (some were bullies threatened by success) but my OG #dryffa Freight Investor Services boys (Craigo, Barry, Kris Payne, Hamming, Ben Klang and Ross), were like my brothers and almost father figures. They raised me on the broking floor, and in a very tough love manner developed my work ethic and tenacity; a skill that's taken me through life. They showed me how to build relationships professionally, they protected me as young female broker and the banter was another level. So anyway, I'm not broking now.... SO Happy Friday y'all!! #friday #broking #shipping #trading #oott