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Kotak Mahindra Bank forays into healthcare financing Kotak Mahindra Bank

Kotak Mahindra Bank forays into healthcare financing

India Blooms News Service | @indiablooms | 22 Sep 2021, 02:26 am

Kolkata/IBNS: Kotak Mahindra Bank (KMBL) Tuesday announced its entry into healthcare financing, ranging from healthcare infrastructure loans, medical equipment finance and unsecured healthcare loans.

The private sector lender will be targeting the healthcare ecosystem including hospitals, laboratories, diagnostic centres, nursing homes, clinics, doctors and medical equipment manufacturers & dealers.

"KMBL has introduced a comprehensive bouquet of offerings at attractive interest rates to meet the financing requirements of all the key players," the bank said in a press release.

This includes innovative lending facilities such as the Insta Programme for quick approval of loans up to Rs. 50 lakh.

The Indian healthcare industry is estimated to record strong growth over the next few years.

KMBL's decision to increase investments in healthcare is fueled by a greater focus by the government to provide accessible, affordable and quality healthcare across the country.

Further, rising insurance coverage and a distinct shift towards wellness & preventive healthcare, in addition to medical tourism, all point towards a robust long-term growth outlook for the industry also directed the investment decision.

Sunil Daga, President & Head – Business Banking Assets, Kotak Mahindra Bank said, “Unquestionably, healthcare is a priority sector for India over the next 3-5 years and beyond. The pandemic has only served to underscore the importance of the sector and the need for increased expenditure and investments to improve both the capacity and the quality of the country’s healthcare infrastructure. To add to this, we are also seeing a growing consciousness towards health and wellness by consumers.”

“The industry is at a pivotal juncture, and we believe the time is right for a customised and diversified range of funding options to cater to the entire supply chain. Kotak’s healthcare finance proposition will support the growth of the Indian healthcare industry,” added Daga.

Kotak Mahindra Bank's range of healthcare financing options include:

·         New & Refurbished Medical Equipment Finance - for purchase of medical equipment from manufacturers/ authorised dealers

·         Working Capital Loans – for managing the cash flow requirements of the business

·         Healthcare Infrastructure Loans - for upgradation/renovation of medical facilities, hospitals and clinics, enhancing capacity or setting up of new hospitals, clinics and diagnostic centres

·         Unsecured Doctor Loans & Loans against Receivables – to healthcare institutions and individual doctors for expansion of business

·         Insta Programme – Quick Approval for loans up to Rs. 50 lakh with minimum documentation