Kotak Mahindra Bank and ING Bank sign MoU

For cross border business

Kotak Mahindra Bank and ING Bank signed a Memorandum of Understanding (MOU) where both institutions will cooperate and explore opportunities arising from cross border business, investment and trade flows across Benelux (Belgium, Netherlands and Luxembourg), Western Europe, Eastern Europe, North America, Asia and Australia.

The MoU covers an array of co-operation areas such as trade finance, remittances and services related to Non-Resident Indians, Nostro and Vostro accounts, funding to counterparties' corporate relationships, fee-based products (including but not limited to foreign exchange, letters of credit, and guarantees), direct banking and digital strategy, and cross-border debt capital markets and M&A.

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