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Our Bureau

Kochi , Sept. 19

KOTAK Mahindra Bank opened its first full-fledged retail banking branch in Kerala at Kochi on Thursday, which offers a complete package of practical financial solutions.

Addressing a press meet after the inauguration of the branch, Mr Uday Kotak, Executive Vice-Chairman and Managing Director, said the bank had developed a diverse set of NRI-centric financial solutions, including investment products, remittance solutions and deposits keeping in mind the growing numbers of non-resident Keralites and their discerning service expectations.

The focus is to provide personalised investment advice to customers based on their individual needs. NRI's can choose investment options ranging from investments in equity through the portfolio investment schemes, investment in mutual funds and insurance, he added.

The bank, he said, offers an online remittance service for NRI's called Funds to Home to offer a fast, economical and secure remitting funds. Remittances to Kotak Mahindra Bank accounts are free and charges for issuing demand drafts payable across 351 locations in the country can be as low as $2.

A new concept of home delivery banking has been introduced in all its locations free of cost and the bank has tied up with Visa to provide customers access to all ATM's with no additional costs. It also tied up with UTI Bank for allowing free of charge access on the latter's ATM network. This ensures availability of 1000 + ATM's for customers.

Speaking on the occasion, Mr Dipak Gupta, Executive Director said that Kochi is the 21st branch in the country and with a focus on metros and mini metros, the bank will have 75 branches in three years.

Besides opening up branches, Kotak Mahindra Bank is also putting up an adequate number of off-site ATM's at strategic locations to allow easy access to the bank's facilities for all its customers.

More Stories on : Private Banks | Kerala

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