Mumbai, 17th June, 2020
To support the daily wage workers working tirelessly to ensure uninterrupted food supply throughout India during the Coronavirus pandemic, Kotak Mahindra Bank (Kotak) today announced that it is distributing dry ration kits to the workers of the Agriculture Produce Marketing Committee (APMC) markets located at Navi Mumbai, Bengaluru, Hyderabad, Jodhpur, New Delhi and Indore.
The APMC markets are at the heart of ensuring essential food supplies to the different parts of the country. The smooth functioning of APMC markets is heavily dependent on daily wage labourers who on a daily basis tirelessly do loading and unloading of tonnes of grains, vegetables and fruits, thus ensuring uninterrupted food supply throughout the country.
D Kannan, Group President – Commercial Banking, Kotak Mahindra Bank said, “Daily wage labourers are an important part of the food supply chain that delivers vegetables, fruits and agri commodities to different parts of the country. The COVID-19 pandemic has disrupted the normal working of the APMC markets, leading to loss of livelihood for these daily wage workers. Providing dry rations kits is a small contribution from us to acknowledge their ceaseless efforts and help them and their families during this difficult period.”
About Kotak Mahindra Bank Limited
Established in 1985, Kotak Mahindra Group is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank – Kotak Mahindra Bank Ltd.
The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 31st March, 2020, Kotak Mahindra Bank Ltd has a national footprint of 1,600 branches and 2,519 ATMs, and branches in GIFT City and DIFC (Dubai).
For more information, please visit the company’s website at https://www.kotak.com/
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