Financial ExpressApr 25, 2022Kotak Mahindra Bank denies FISME’s allegations of ‘restrictive practices’ in banking services to MSMCredit and Finance for MSMEs: Industry body for small businesses Federation of Indian Micro and Small & Medium Enterprises (FISME) has cautioned its members, who are existing or potential customers of Kotak Mahindra Bank, of the latter’s “restrictive and unethical practices.” In a three-page advisory note issued by FISME last week titled ‘Advisory for MSMEs on Kotak Mahindra Bank’, FISME said “a relationship with Kotak is often seen to come with hidden costs, higher interest rates, excessive forex commissions, overcharging for routine services and poor service delivery.”Read more at Financial Express
Credit and Finance for MSMEs: Industry body for small businesses Federation of Indian Micro and Small & Medium Enterprises (FISME) has cautioned its members, who are existing or potential customers of Kotak Mahindra Bank, of the latter’s “restrictive and unethical practices.” In a three-page advisory note issued by FISME last week titled ‘Advisory for MSMEs on Kotak Mahindra Bank’, FISME said “a relationship with Kotak is often seen to come with hidden costs, higher interest rates, excessive forex commissions, overcharging for routine services and poor service delivery.”Read more at Financial Express
