Kotak Mahindra Bank : Partners India SME Forum to Give a Boost to Indian Exports

Media Release

#EmpoweringBusiness

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

Mumbai, 14th October, 2021: 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.

*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.

About Kotak Mahindra Bank Limited

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd.

The Bank has four Strategic Business Units - Consumer Banking, Corporate Banking, Commercial Banking and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group's business model is concentrated India, diversified financial services. The bold vision that underscores the Group's growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 30th June, 2021, Kotak Mahindra Bank Ltd has a national footprint of 1,612 branches and 2,591 ATMs, and branches in GIFT City and DIFC (Dubai).

For more information, please visit the company's website at https://www.kotak.com/

About India SME Forum

Formed in May 2011, with the objective to propel a Small and Medium Business Movement across the country, India SME Forum is a non-governmental,non-political,non-trade union, not for profit organisation.

Starting out with 400 members in 2011, today we have over 87,000+ MSMEs as members, 9 lakh+ subscribers and 7000+ women entrepreneurs and 19 chapters, 270+ Sectoral, Regional Associations as supporters & International Network organisations as partners.

ISF's aim is to provide a voice to small and medium entrepreneurs, advocate changes to the entrepreneurial ecosystem and to support and recognise innovative, globally competitive SMEs in India.

As part of its mission, the India SME Forum shares best practices, information and knowledge as well as seeks and recognises MSMEs who have exhibited great success in leading their enterprises, creating much needed employment, enabling a sustainable ecosystem and catapulting their enterprise to the next stage, while navigating the inherent risks imminent with business.

India SME Forum, is also an important contributor to the Entrepreneurial ecosystem of India, as a gazetted member of the 3 member Advisory Committee of the Ministry of MSME, Member of India's National Board of MSME, the apex MSME Statutory Body, between 2015-2021, Member - Convener of the Export Promotion & Trade Development Task Force of the Ministry of MSME & also Member of the RBI's Standing Advisory Committee on Flow of Institutional Credit to MSME Sector, apart from contributing to various national and international think tanks.

For further information, please contact:

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