Scotiabank (TSX:BNS) has entered a referral agreement with India’s Kotak Mahindra Bank Ltd. to provide financial services to people emigrating to Canada and to Indo-Canadians seeking accounts and investment services in India, the bank announced on Tuesday.

Through the alliance, select Kotak Mahindra Bank branches will offer Canada-bound Indian residents with access to the Scotiabank StartRight Program for Newcomers. The program allows immigrants to open accounts and assists with Canadian credit card applications prior to 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 (PIO) banking solution.

“We’re Canada’s most international bank and we’ve had a presence in India for the past 30 years which gives us a unique perspective on what international clients are looking for in financial planning,” said Troy Wright, Scotiabank’s executive vice president of retail distribution in 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.”

Kotak Mahindra Bank has more than 375 branches and 863 ABMs across India.

“We have a strong focus on NRI Banking and our alliance with Scotiabank further strengthens our customer offering,” said Virat Diwanji, executive vice president and head of branch banking in the business assets and non-resident division at Kotak Mahindra Bank. “Canada has a sizable NRI and PIO population and both banks look forward to sharing common values of excellence in serving our clients and meeting their banking and financial needs.”

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,” said Winnie Leong, Scotiabank’s vice president of multicultural banking. “This strategic alliance with Kotak Mahindra Bank expands our reach in India, and gives both banks an opportunity to provide relevant advice and services to customers planning a move to Canada.”