Kotak Mahindra Bank launches Click2Remit - A new revamped remittance platform for NRIs around the world

Online, September 28, 2010 (Newswire.com) - Features

- Remittances in USD, GBP, EURO, JPY, CAD, CHF, AUD, AED, and SGD to more than 65,000 branches of over 100 banks in India
- Various transfer modes available - Automated Clearing House (ACH), bank transfer, wire transfer, cheque transfer, and
- Attractive foreign exchange conversion rates; Low transaction costs
- Enhanced security to safeguard online transactions
- Dedicated service desk for prompt customer service

Mumbai, September 20, 2010: Kotak Mahindra Bank (KMB), one of India's leading private banks, launched Click2Remit - an upgraded portal designed to help Non-Resident Indians (NRIs) to remit money to India in a most convenient and cost-effective manner. Click2remit is among the top end remittance sites in terms of functionality, features and transactional capabilities. The platform enables NRIs to remit in currencies like USD, GBP, EURO, AUD, Japanese Yen (JPY), Canadian $ (CAD), Swiss Frank (CHF), United Arab Emirates Dirham (AED), and Singapore $ (SGD) to more than 65,000 branches of over 100 Indian banks across India. Click2Remit, with enhanced security to safeguard online transactions, is also available through Kotak Net Banking.

Speaking about the new offering, Mr. Virat Diwanji, Executive Vice President, Kotak Mahindra Bank said, "We foresee a steady rise in remittances in coming years, backed by an improving global economic scenario. Click2Remit has been designed to be the most convenient and cost effective way for NRIs to remit money back home. The platform supports multiple currencies, thus providing a wider reach to Non-Residents. We at Kotak Mahindra Bank continuously endeavour to provide easy, simple and convenient banking solutions."

Click2Remit also offers the option of choosing guaranteed rates and there is no fee levied for transfers undertaken. NRIs can remit money to India through various transfer modes such as Automated Clearing House (ACH), bank transfer, wire transfer, and cheque transfer. The new portal offers attractive foreign exchange conversion rates and low transaction costs. A dedicated service desk has been set up to provide prompt customer service.

About Kotak Mahindra Bank http://www.kotak.com

Established in 1985, the Kotak Mahindra group has been one of India's leading financial services conglomerate. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI). This approval creates banking history since Kotak Mahindra Finance Ltd. is the first non-banking finance company in India to convert itself in to a bank as Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank offers complete retail financial solutions for varied customer requirements. The Savings Account goes beyond the traditional role of savings and provides a range of services through a comprehensive suite of investment services and other transactional conveniences like Online Shopping, Bill Payments, ASBA, Netc@rd, ActivMoney (TD sweep). Investment Account, Payment Gateway services etc. All this can be availed through Internet or phone banking services. The Bank also offers loan products such as Personal Loans, Commercial Vehicle Loans, etc. Keeping in mind the diverse needs of the Business Community, Kotak Mahindra Bank offers comprehensive business solutions that include Current Account, Trade Services, Cash Management Services and Credit facilities. Kotak Mahindra Bank has 264 full fledged retail branches and 575 ATMs spread across 153 locations in the country. The Bank has the products, the experience, the infrastructure and most importantly the commitment to deliver pragmatic, end-to-end solutions that really work.

For further information, please contact:

Jaydeep Raval
Kotak Mahindra Bank
Mobile: +919619866877
jaydeep.raval@kotak.com

Supriya Morde
Genesis Burson-Marsteller
Mobile: +919833031251
supriya.morde@bm.com