United States Agency for International Development (USAID) and US International Development Finance Corporation (DFC) have entered into partnership with Kotak Mahindra Bank for $50 million (about Rs 372 crore) loan guarantee for Indian women and small business borrowers. The bank will be providing loans for on-lending to non-bank lenders operating in the MSME and micro-lending space. The program is likely to benefit 30,000 women borrowers and 7,500 MSMEs.
Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.
