GUJARAT, AHMEDABAD 22 MAY 2025: Small and Medium Enterprises (SMEs) in Gujarat are increasingly adopting digital banking solutions to streamline operations and enhance efficiency. Historically, SMEs have struggled with banking solutions designed for large enterprises or for individuals, which often do not address their specific needs. This trend is reshaping the financial landscape for SMEs, with many seeking partnerships with banks that offer tailored digital solutions.
While several banks are trying to attract SME customers, Kotak Mahindra Bank seems to have a head start in the market, especially in Gujarat, thanks to its Kotak fyn platform and Mobile app. This integrated digital solution simplifies business banking services of Trade, Account Services, Collections, and Payments, offering a seamless, paperless experience that allows SMEs to focus more on their core activities. In addition, its AI/ML engine aided analytics and reports, helping SMEs manage their working capital smartly.
Shekhar Bhandari, President – Small and Medium Enterprises at Kotak Mahindra Bank, shares insights on what the bank has learned about SME customers in Gujarat over the years. “Entrepreneurs in Gujarat have deep business acumen and require smarter solutions. Kotak fyn platform and Mobile app, is designed to maintain their edge and has been extremely well received by our customers in Gujarat and all across India. Fyn is intuitive, easy-to-use, comprehensive and integrated offering to our customers. It allows SME entrepreneurs a universal access across Trade, Collections, Account Services, Loans and Payments through all channels like mobile, API and web, enabling a seamless customer experience. Fyn is “For Your Needs” and designed to provide a truly differentiated user experience” he explains.
Gujarat, known for its vibrant economy and diverse industries, remains a focal point for many SMEs. The state is home to around 11.26 lakh registered MSMEs, accounting for 7.5% of the total 1.48 crore MSMEs registered nationally. These businesses are expected to play a crucial role in driving India’s economic growth, contributing significantly to the vision of a $10 trillion economy. The resilience and innovation demonstrated by SMEs in Gujarat position them as key players in the state’s economic development.
To support the burgeoning SME sector, banks like Kotak Mahindra are making substantial investments in Gujarat, enhancing their capacity to serve the fast-growing SME ecosystem through numerous branches across the state. Strategic markets within Gujarat, including Ahmedabad and other key locations, are being targeted to maximize impact and unlock new growth opportunities.
As SMEs in Gujarat continue to embrace digital banking partnerships, the trend towards more efficient and streamlined financial operations is set to grow. With innovative platforms and customer-centric approaches, banks like Kotak Mahindra are well-positioned to support the ongoing digital transformation of SMEs in Gujarat and beyond.
