Kotak Mahindra launches NRI banking with Scotiabank

Indians moving to Canada can now experience NRI banking services with another trusted Indian banking brand.

For new immigrants, or international students, the latest alliance of Kotak Mahindra Bank with Canada’s Scotiabank opens the doors for financial services at a time when you need those the most – just after arrival in a new country.

The services will suit not just people emigrating from India to Canada but also to Non-Resident Indo-Canadians seeking accounts in India.

NRI bank

Scotiabank employs 81,000 people in more than 55 countries including India. Scotiabank has been operating in India for three decades which gives it “a unique perspective on what international clients are looking for in financial planning,” says Troy Wright, Scotiabank’s Executive Vice President of Retail Distribution, Canadian Banking.

“Partnering with Kotak Mahindra Bank gives Scotiabank a platform to reach out to Indian residents immigrating to Canada and provides our customers in Canada with a referral to one of the leading financial institutions in India.”

Now, select Kotak Mahindra Bank branches will offer Canada-bound Indian residents with access to the Scotiabank StartRight Program for Newcomers. The program lets people open an international account and credit card even before leaving India.  In Canada, select Scotiabank branches will help non-resident Indian customers seeking bank accounts in India by referring them to Kotak Mahindra Bank’s MyIndia Program – their non-resident Indian (NRI) and people of Indian Origin (POI) banking solution.

The $2.4 billion Kotak Mahindra Group received a banking license from the Reserve Bank of India in February 2003 and the bank has over 375 branches, and 863 ABMs, in 219 locations across India.

“We have a strong focus on NRI Banking and our alliance with Scotiabank further strengthens our customer offering,” says Virat Diwanji, Executive Vice President & Head, Branch Banking, Business Assets & NR, Kotak Mahindra Bank.

“Canada has a sizable NRI and PIO population and both banks look forward to sharing common values.”

In addition to its new partnership with Kotak Mahindra Bank, Scotiabank offers the Scotiabank StartRight international account opening program in select Scotiabank branches in India and Mexico and through China Everbright Bank in China.

“We understand that moving around the world is an enormous undertaking, and we strive to offer some stability during this transition by helping people with the financial part of their move,” says Winnie Leong, Scotiabank’s Vice President of Multicultural Banking.

The Scotiabank StartRight Program is available at any Scotiabank branch in Canada or by calling 1-866-800-5159 (from North America) or 000 800 100 7460 (from India). To better assist customers both in India and Canada, the Scotiabank StartRight website (www.scotiabank.com/startright) is available in a variety of languages, including Punjabi.

 

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