Kotak Mahindra Group fires on all cylinders to boost Consumer Demand

Udaipur : As India’s festive season commences, and alongside concerted efforts by the Government of India and the Reserve Bank of India to give a boost to the economy with various monetary and fiscal stimulus measures, Kotak Mahindra Group (Kotak) today announced the launch of Kona KonaKhwaab Loan Utsav in Rajasthan- a festive celebration across India with attractive rates and offers across their whole range of products in the consumer, a grand tractor loan segments.

To rekindle the much-needed animal spirits and boost consumer demand, Kotak is betting big on half a billion Indian women (Naari Shakti)who are the real decision-makers for all home and household purchases. Women are around 50% of India’s population, but at present contribute to less than 20% of the formal GDP and make up less than 25% of the workforce. With preferential interest rates for women borrowers, in addition to special offers for all customers, this bumper consumer loan festival is aimed at meeting the demand for credit as retail consumption picks up during the festive period.

Puneet Kapoor, Senior Executive Vice President, Kotak Mahindra Bank said, “We are a large consumer-focused bank in the business of lending money prudently across geographies and customer segments. With sufficient liquidity in the system, the need of the hour is to reach out to consumers across the length and breadth of our country with easier access to credit to stimulate demand. Various research studies have shown that women are better at managing money – better savers and better borrowers. At Kotak, we strongly believe in the power of Naari Shakti, the backbone of the Indian economy and by backing women and improving their access to financial services, we believe Kona KonaKhwaabLoan Utsavwill give a big boost to consumer demand and the economy.”

Kona KonaKhwaabLoan Utsavoffers competitive rates, attractive offers and quick approvals on a range of consumer and agriloans, including car and two-wheeler loans, home loans, personal loans, consumer durable loans, agribusiness loans, tractor loans, gold loans, loans for small businesses, commercial vehicle loans and construction equipment loans.