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HDFC Bank signs MoU with Karnataka to provide banking and financial services to startups

HDFC Bank’s ‘SmartUp Program’ promotes the startup ecosystem in India. The programme aims to assist startups in achieving their goals through the bank’s smart financial tools
HDFC Bank signs MoU with Karnataka to provide banking and financial services to startups
HDFC Bank signs MoU with Karnataka to provide banking and financial services to startups (Representational image: Shutterstock)

HDFC Bank today signed a memorandum of understanding (MoU) with Karnataka Innovation and Technology Society (KITS), Government of Karnataka. As per the MoU, HDFC Bank will provide banking and financial services to startups registered with ‘Karnataka Startup Cell’ under HDFC Bank’s ‘SmartUp Program.’

The MoU was signed at the 25th edition of Bengaluru Tech Summit. Meena Nagaraj CN, IAS, Managing Director, Karnataka Innovation and Technology Society (KITS) and Ahmed Zackaria, Branch Banking Head – South, HDFC Bank signed the MoU in the presence of other state government officials. From HDFC Bank, Rajnish Barua, Zonal Head Branch Banking and Mithun John, Startup Vertical Head, were present.

Highlighting the collaboration, Ahmed Zackaria, Branch Banking Head – South, HDFC Bank said, “HDFC Bank is committed to nation-building and it is our endeavour to support the startup ecosystem in the country. The SmartUp Program is our sincere effort to provide complete end-to-end support to startups in achieving their goals and growing big. We are excited to join hands with KITS in facilitating startups with a comprehensive solution for their banking needs. Together, we hope to continue our objective of promoting the startup ecosystem in the country.”

‘SmartUp Program’ is HDFC Bank’s flagship initiative to promote the startup ecosystem in the country. The programme aims to assist startups in achieving their goals through the bank’s smart financial tools.

“The Bank has been closely associated with KITS and is now glad to formalise the partnership through this MoU. HDFC bank has been a key Banking partner to the winning startups at Karnataka Government’s flagship startup event, Elevate, for the last three years. The Bank has organised multiple angel investment workshops to build awareness in partnership with KITS with the most recent one being held earlier this month,” HDFC Bank said. The programme will ease the budding startups to get banking and financial services.

Read more: Agriculture ministry to set up Rs 500 Cr accelerator program to promote agri startups

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