Mumbai, 12th September, 2022: Kotak Mahindra Bank Limited (“KMBL”/“Kotak”) today announced that the Government of India has felicitated it with the Agri Infra Fund Award for its invaluable contribution to the Agriculture Infrastructure Fund (AIF). Under this scheme, KMBL has disbursed more than Rs 425 crore of credit to various agripreneurs and farmers.
B.S. Sivakumar, President & Business Head – Agri Finance and Key Leadership Team member, Kotak Mahindra Bank stated, “It is an honour for Kotak Mahindra Bank to be felicitated by the Hon’ble Union Minister of Agriculture Shri Narendra Singh Tomar. We are always at the forefront to ensure timely and effective contribution in the Indian agriculture sector. It is also worth noting that over 26% beneficiaries, funded by Kotak under this Fund, are women. We are committed to the growth of
Hon’ble Union Minister of Agriculture Shri Narendra Singh Tomar (fifth from left) presents KMBL officials with the Agri Infra Fund Award.
the agri sector and believe in the values of inclusion for all. We dedicate this award to our customers and the entire team at Kotak.”
The Government had launched the AIF in August 2020, after formulating a dedicated team to mobilise medium and long-term debt financing facility for investments in viable projects related to post-harvest management infrastructure and community farming assets through incentive and financial support. Under this scheme, the beneficiary is eligible for availing 3% interest subvention up to Rs 200 lakh of term loan facility. These projects are also backed by Government guarantee through the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
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