KMB is India’s first bank to now enable funds transfer without internet connectivity and without adding beneficiary, through this app. This encourages cashless transactions by enabling customers to transfer up to Rs. 2,500 per day and at a time. The process of funds transfer is simple and totally secure as the transaction can only be initiated from customer’s registered mobile number. Further, customer will get a confirmation SMS on the registered mobile number, which is encrypted, and hence cannot be tampered.
Kotak Bharat will enable customers to manage their savings and current accounts as well as credit cards. It is currently available in Hindi, English, Gujarati, Marathi, Tamil and Kannada, and will soon be released in other Indian languages.
Kotak Bharat is designed for customers with no internet connectivity. It works on the existing SMS banking keyword process platform, and is completely safe and secure. All customers holding bank accounts and/or credit cards, and using Android phones, including affordable handsets with version 2.2.3 onwards, can download the app on their registered mobile number without any separate registration process.
Customers can manage their bank accounts and also use the app for a range of services including recharging mobile and DTH services, linking Aadhaar number to the bank account, finding Kotak ATMs & branches, applying for Pradhan Mantri Suraksha Bima Yojana (life insurance) / Pradhan Mantri Jeevan Jyoti Bima Yojana (accident insurance) schemes, etc
Kotak Bharat can be accessed by customers through their registered mobile number only, and for Customer Relationship Numbers (CRNs) linked to this number. Since the app uses SMS to complete user’s transactions, standard SMS charges shall apply as per users’ mobile tariff plans.