Kotak Mahindra Bank forays into healthcare lending; not to use RBI's liquidity window

kotak mahindra bank, business banking assets, sunil daga, Kotak, RBI, loans

Kotak Mahindra Bank

on Tuesday announced its foray into the healthcare lending space, where it will be taking exposures of up to Rs 15 crore apiece. The private sector lender, however, will not be seeking funds from the Reserve Bank’s on-tap liquidity scheme for the sector, as its cost of funds is very low, its President and Head of Business Banking Assets, Sunil Daga, said.

In May this year, the RBI had announced an on-tap liquidity window of Rs 50,000 crore for on-lending by banks to the healthcare sector, where they can take exposures of up to three years and access funding at the repo rate.

Daga said the bank’s cost of funds is “very competitive” and hence, it will not be accessing the RBI window. Even without the central bank’s special window, the business is exciting, he added.

Till now, Kotak Mahindra Bank had been providing funds to the healthcare sector but now it has a focused offering, Daga said, adding that the business will be part of its consumer segment.

Daga declined to specify the size of its current healthcare book, but added that it was miniscule. Now, the bank has created a dedicated pan-India team to cater to this business.

It will take exposures ranging from healthcare-related loans for an individual, to long-term project lending for doctors building healthcare infrastructure, he said, adding that single exposure can go up to Rs 15 crore.

The bank is targeting to start with signing up 100 customers a month and will be aiming to take it up to 500 a month, Daga said.

The loans will be both secured as well as unsecured, and also include a quick approval for exposures up to Rs 50 lakh, the bank said in a statement.

The loan tenure will be between 12 to 84 months, while the loan to value ratio can go up to 85 per cent, as per its website.

Internet Explorer Channel Network
News Related

OTHER NEWS

Crypto at a crossroads: What's next for Singapore?

Crypto at the crossroads as S’pore okays firms offering digital payment token services The cryptocurrency revolution has been gathering pace of late and looks set to shift into a new ... Read more »

Two more soldiers killed; encounter in Poonch-Rajouri enters 5th day

The operation of security forces in Poonch-Rajouri of Jammu entered the fifth day on Friday. Seven soldiers, including a junior commissioned officer, have been killed till now, two on Friday. ... Read more »

India resumes Vaccine Maitri, will step up initiative in November

India will have excess Covid-19 vaccine doses to fully resume Vaccine Maitri, its initiative to export vaccines to other countries which was suspended in April. Over the last one week, ... Read more »

Murder at Singhu border puts farmer unions in spot

The gruesome murder of a person, allegedly by Nihang Sikhs at the protest site at the Singh border, has put farmers’ unions in a spot. Videos have surfaced of 35-year-old ... Read more »

BJP MLA on maun vrat over delay in procurement of paddy

Days after the Lakhimpur Kheri incident, a BJP MLA from the district has protested against the district administration on Thursday over issues plaguing farmers and forest dwellers, the most immediate ... Read more »

Industry bodies seek clarity on online gaming

IT industry associations Nasscom and IndiaTech.org have urged Karnataka to clarify several clauses in its recently notified Karnataka Police (Amendment) Act, 2021 that bans gaming through internet and mobile apps, ... Read more »

Flagging concerns over two-child policy push: Will endanger health of women, say experts

Gender and public health experts have flagged concerns over RSS chief Mohan Bhagwat’s push for a strong national population policy, warning that a “coercive” two-child policy can lead to an ... Read more »

Global stocks extend rally on earnings; Brent oil hits new peak

London: Global stocks rallied again Friday on strong US earnings, and London hit a post-pandemic peak as Brent oil rose to its highest level in three years on the back ... Read more »

India's stock market can withstand external shocks, says Nomura

Nomura Holdings Ltd. expects India’s capital markets to be resilient in the event of foreign investors suddenly getting cold feet, as local financial institutions and the retail investors flocking to ... Read more »

Singhu border killing: Haryana Police detains one person in Sonipat

Haryana Police on Friday detained one person in Sonipat in connection with the Singhu border incident where a corpse was found hanging with hands and legs chopped at the spot ... Read more »

Tamil Nadu CM calls up class VI student to say schools will re-open on November 1

“You can go to school again when it re-starts on November 1,” he said after she sought to know when the schools would re-open. Prajna of Titan Township, Hosur, wrote ... Read more »

Man killed on Singhu border belonged to Punjab: Haryana Police

Haryana Police said on Friday that an FIR was lodged in connection with the murder of a man belonging to Punjab near the farmers’ protest site on the Singhu border ... Read more »

Chhattisgarh: One killed, 16 injured as SUV runs into religious procession

One person was killed and 16 others were injured when an SUV ran into a religious procession at Pathalgaon in Jashpur district of Chhattisgarh on Friday afternoon, police said. The ... Read more »

Two issues are holding up the Naga solution under the ongoing Indo-Naga political talk: NSCN-IM

NSCN-IM stated Naga national flag and Constitution (Yehzabo), the two issues that is holding up the Naga solution under the ongoing Indo-Naga political talk in Delhi. NSCN-IM leadership is engaged ... Read more »

Navjot Singh Sidhu to continue as Punjab Congress chief, says issues 'sorted out'

Congress leader Navjot Singh Sidhu has assured former party president Rahul Gandhi of withdrawing his resignation as the chief of party’s Punjab unit, senior All India Congress Committee (AICC) functionary Harish ... Read more »

11 killed after tractor-trolley overturns in UP's Jhansi

At least 11 people, including four children, were killed here on Friday after a tractor-trolley in which they were travelling overturned when the driver suddenly applied the brakes to avoid ... Read more »

Speeding car rams into Durga idol immersion procession in Chhattisgarh; 1 dead, over 15 injured

Visuals shared on social media A speeding car rammed into devotees part of a Durga idol immersion procession in Chhattisgarh on October 15, leading to the death of at least one person. ... Read more »

MS Dhoni becomes first in world cricket to captain in 300 T20 games

File image of MS Dhoni during an IPL match. Instagram/iplt20.com, BCCI) Chennai Super Kings skipper Mahendra Singh Dhoni on Friday became the first player in world cricket to captain a ... Read more »

'Unscientific methodology', says Centre on Global Hunger Index that places India at 101st spot

Representative image The methodology used to prepare the Global Hunger Index (GHI) 2021 is “unscientific”, the Centre said on October 15, a day after the report was released which ranks ... Read more »

In Pics | Dussehra 2021: Ravana effigies burnt across India to mark triumph of good over evil

An effigy of the Hindu demon Ravana is seen burning on the occasion of the Hindu festival of Dussehra, which marks the triumph of good over evil, in New Delhi ... Read more »

Equity, bond funds see inflows as markets hit rough patch: BofA

LONDON: Investment flows into equities slowed while emerging market debt and equity funds saw the biggest redemption in ten weeks as concerns about surging inflation pressures and a China slowdown ... Read more »

US Futures edge higher ahead of Goldman earnings, retail sales data

US stock futures edged higher on Friday and pointed to weekly gains for major indexes, ahead of results from Goldman Sachs, which is expected to round out a strong third-quarter ... Read more »

Dip in India's rank in Global Hunger Index 'shocking', methodology used is 'unscientific': Govt

The Centre on Friday said it was shocking that India’s rank was lowered on the Global Hunger Index and it termed the methodology used for rankings “unscientific”. India slipped to ... Read more »

Dussehra 2021: A look at the preparations for Ravan Dahan

India gear up for Dussehra or Vijaydashami celebration on October 15 amid the ongoing COVID-19 pandemic. Dussehra is celebrated after Navratri, a Hindu festival that spans nine days every year. ... Read more »

RSS chief flags concerns over 'unregulated' OTT content, 'uncontrolled' Bitcoin and drug consumption

Flagging serious concerns over the “unregulated” content being shown on OTT platforms, “uncontrolled” Bitcoin currency that has potential to “destabilise economy of all countries” and use of narcotic drugs by ... Read more »

Man lynched at Singhu border, hand chopped off

A man was lynched, his hand chopped off and the body tied to a metal barricade at a farmers” protest venue at Kundli near the Delhi-Haryana border, a gruesome incident ... Read more »

BSF jurisdiction row: AAP accuses Punjab CM Charanjit Singh Channi of surrendering over half of the state to Modi govt

Punjab CM Charanjit Singh Channi meets with PM Modi at his residence in Delhi (Image: Twitter/ PMO India) The Aam Aadmi Party (AAP) on Friday targeted the Punjab government over the issue ... Read more »

China central bank says Evergrande risks 'controllable'

China‘s central bank said Friday that the risk of spillover from embattled property giant Evergrande to the financial sector was “controllable”, breaking its silence on the company’s debt troubles, state ... Read more »

IT department detects Rs 184 crore black money after raids on Mumbai realtor, linked entities

Kerala had set up India’s first lottery department in 1967. The Income Tax Department detected unaccounted income of about Rs 184 crore after it recently raided two real estate business ... Read more »

UK to allow cheaper COVID-19 tests for returning vaccinated travellers from countries not on red list

Fully vaccinated travellers returning to England from countries not on the travel ban red list can take a COVID-19 negative Lateral Flow Test (LFT) instead of the more expensive Polymerase ... Read more »

Ashish Kacholia dumps shares of this smallcap multibagger in Sept quarter

NEW DELHI: Value investor Ashish Kacholia, famous for finding hidden gems in smallcap space, dumped shares of Apollo Pipes during the July-September period, possibly exiting completely from the company. The ... Read more »

Covid outbreak in Delhi shows herd immunity against Delta variant difficult: Study

The severe outbreak of COVID-19 in Delhi this year showed that the Delta variant of SARS-CoV-2 can infect individuals previously infected by a different variant of the coronavirus, highlighting the ... Read more »

India's economy recovered very fast after tough phase of COVID-19 pandemic, says PM Modi

Prime Minister Narendra Modi on Friday said the recovery of India’s economy after the difficult phase of COVID-19 pandemic has been robust. He was speaking after a virtual ground-breaking ceremony ... Read more »

Nippon Steel sues Japan business partner Toyota over patent

Nippon Steel Corp. is suing Toyota Motor Corp. over a patent for a technology used in electric motors in a rare case of legal wrangling between Japan‘s top steelmaker and ... Read more »

Evergrande's $1.7 billion Hong Kong headquarters sale flops as buyer withdraws

Chinese state-owned Yuexiu Property has pulled out of a proposed $1.7 billion deal to buy China Evergrande Group’s Hong Kong headquarters building over worries about the developer’s dire financial situation, ... Read more »

Rights of Hindu temples must be handed over to Hindu devotees; its wealth be used for Hindus only: Bhagwat

Expressing concern over the state of affairs of some temples in the country, RSS chief Mohan Bhagwat on Friday said the operating rights of such entities must be handed over ... Read more »

PE Investment in real estate jumps 24% annually in July-September at Rs 3,500 crore: Report

Kerala had set up India’s first lottery department in 1967. Private equity investment in real estate rose 24 per cent year-on-year to USD 477 million (about Rs 3,500 crore) during ... Read more »

Security forces apprehend 4 cadets of Niki Sumi group

Security Forces in a joint operation with Police apprehended four cadres of Niki Sumi group near general area Daba Gaon, Dimapur. Based on a specific input, Security Forces in a ... Read more »

European equities climb at open on better-than-expected US recovery

European stock markets opened higher on Friday, with investors encouraged by a strong start to the US earnings season. In initial trade, London’s benchmark FTSE 100 index won 0.4 percent ... Read more »