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Kotak Launches Real-Time Working Capital Finance For MSMEs

With this, KMBL has become one of the first banks to go live on the Open Credit Enablement Network (OCEN)-enabled GeM Sahay

Photo Credit : Bloomberg


As part of its digital-first strategy, Kotak Mahindra Bank on Thursday launched a real-time loan offering for its clients classified as micro, small and medium enterprises (MSMEs) that are registered on the Government’s e-Marketplace (GeM) Sahay - a platform that connects sellers with lenders. 

Existing Kotak clients - MSMEs - can now get finance from KMBL in an end-to-end digital journey - sanction to disbursal - backed by a strong artificial intelligence model, it said in a statement.

Sunil Daga, President and Head – Business Banking Assets, Kotak Mahindra Bank said, “Carrying forward our digital-first strategy, Kotak Mahindra Bank has deployed state-of-the-art technology to evaluate loan applications and disburse the sanctioned amount in a completely digital journey."

Sellers looking for finance on GeM Sahay will unlock a huge potential with Kotak’s working capital finance offering. Besides, MSMEs will be able to avail of loans from us without collateral on a real-time basis, which will help them manage their working capital finances far more efficiently, Daga said.

Deepak Sharma, President and Chief Digital Officer, Kotak Mahindra Bank said, “Kotak's availability on OCEN has helped us penetrate deeper into a public ecosystem. The initiative not only ensures instant cash flow lending to our MSME customers but also helps us connect further with such customers seamlessly. It positions us as a socially responsible and trustworthy digital banking partner for our MSME customers."

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kotak Working Capital Finance msmes