Jaipur, December 2024.

Kotak Mahindra Bank has announced ambitious plans to grow its Small and Medium Enterprises (SME) business in Rajasthan. Over the past 18 months, the bank has expanded its SME presence across Kota, Pali, Bhilwara, Balotra and Alwar, in addition to existing coverage in Jaipur, Udaipur and Jodhpur. Leveraging on the local insights and growth opportunity Kotak witnessed substantial growth in the SME customer base and loan book, reflecting the increasing demand from the segment.

Shekhar Bhandari, President of SME at Kotak Mahindra Bank, highlighted that SMEs in Rajasthan are now among the bank's fastest-growing markets. "Rajasthan, with its vibrant economy and diverse industries such as handicrafts, industrial machinery, agriculture, gems and jewellery, real estate, iron and steel & software services has become a key focus area for our strategic expansion," he said.

Rajasthan is identified as a crucial growth market for Kotak Mahindra Bank, which has outlined substantial growth plans for the coming years. The bank's SME loan book and customer base in the region have almost doubled in the last 18 months and it currently serves the needs of businesses and entrepreneurs through 89 branches across 44 locations in the state.

"SME is a strong focus area for the bank’s growth strategy," Bhandari added. "We are confident of sustainable growth in this segment across the country, with a special focus on Rajasthan in the coming years. SMEs will play a significant role in making India a $10 trillion economy, and the bank is committed to supporting their growth and growing alongside them."