Kotak Partners India SME Forum to Give a Boost to Indian Exports

Kotak Mahindra Bank Limited (KMBL) today announced that it is partnering India SME Forum, a not for profit organisation for small and medium enterprises, on its India Xports 2021 initiative supported by the Ministry of Micro, Small & Medium Enterprises, Government of India and the National Small Industries Corporation (NSIC). The initiative aims at supporting Indian MSMEs with a range of exports and trade financing solutions and creating a sustainable exports ecosystem. KMBL is offering a comprehensive array of business banking solutions to all exporters registered under the India Xports initiative.

KMBL offers a host of customised solutions for start-ups and MSMEs including a variety of current accounts, financing solutions such as business loans and working capital finance, trade services, payment solutions such as Points of Sale and QR solutions and cash management services.

Sunil Daga, President & Head - Business Banking Assets, Kotak Mahindra Bank said, "India Xports is an ideal forum for aspiring exporters, supporting Indian MSMEs looking to make a mark globally with a full range of services. Exporters registered on this portal will greatly benefit from Kotak's best-in-class suite of lending and working capital solutions, helping them realise their true potential."

Thakur Bhaskar, Senior Executive President & Head - Liability Products and Merchant Acquiring Business, Kotak Mahindra Bank said, "We are glad to play a key role in supporting Indian entrepreneurs via India Xports. Exporters would gain from our diverse suite of tailor-made products and services offered across over 80 trade hubs in the country. Together we can build an environment that will nurture India's exports potential and support the growth of India's MSME exporters."

Vinod Kumar, Hon. President, India SME Forum & Mg. Partner, SDRC International said, "India Xports will be a smart catalyst for Indian MSMEs wishing to go international, driving MSME exports to achieve their full potential and helping enable progressive MSMEs to become globally competitive & transforming their business, creating much needed employment in labour Intensive sectors."

Key benefits from KMBL for exporters registered on India Xports*:

• Customised business loans are available up to Rs. 75 lakh without any collateral or security deposit.
• A range of products are offered under fund and non-fund based working capital to suit the specific requirement of every business.
• Customers can choose from a range of current account variants and earn interest on idle funds with ActivMoney facility, in which surplus funds above a specified threshold are transferred from current accounts to fixed deposits and vice-versa.
• KMBL's Privy League premium current account offers best-in-class-pricing, higher cash deposit and withdrawal limits, attractive rates on trade services and priority processing.
• KMBL's nodal account services help with the smooth collection and subsequent pay-out to sellers.
• KMBL's Global Trade Account enables users to make seamless cross border business transactions.
• KMBL's Forex Live platform enables customers to book FX rates at their convenience.

The India Xports initiative is a storehouse of knowledge for all exporters. The initiative is a one-stop shop on exports and trade financing, logistics, research and market intelligence on MSME products. The initiative aims to realise the untapped exports potential of Indian MSMEs.
Shares of Kotak Mahindra Bank Limited was last trading in BSE at Rs. 2016.10 as compared to the previous close of Rs. 2006.15. The total number of shares traded during the day was 22101 in over 1596 trades.

The stock hit an intraday high of Rs. 2025.00 and intraday low of 1985.50. The net turnover during the day was Rs. 44318603.00.

*Terms & Conditions apply

Credit is at the sole discretion of Kotak Mahindra Bank Ltd and subject to guidelines issued by RBI from time to time. Bank may engage the services of a marketing agency for the purpose of sourcing loans assets.

Source : Equity Bulls

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KotakMahindraBank INE237A01028 KOTAKBANK Banks SMEForum Partnership