HDFC Signed MoU With KITS To Promote The Startup Ecosystem

Today, the Karnataka Innovation and Technology Society (KITS) and HDFC Bank signed a Memorandum of Understanding. According to the Memorandum of Understanding, HDFC Bank will offer banking and financial services through its "SmartUp Program" to businesses registered with the "Karnataka Startup Cell."

The MoU was formally inked during the 25th Bengaluru Tech Summit. In the presence of other representatives of the State Government, the Memorandum of Understanding (MoU) was signed by Smt. Meena Nagaraj C N, IAS, Managing Director, Karnataka Innovation and Technology Society (KITS), and Mr. Ahmed Zackaria, Branch Banking Head South, HDFC Bank. Mr. Rajnish Barua, Zonal Head of Branch Banking for HDFC Bank, and Mr. Mithun John, Startup Vertical Head, were in attendance.

The flagship program of HDFC Bank to support the nation's startup ecosystem is called the "SmartUp Program." The program's mission is to help startups reach their objectives by using the bank's well-known and highly sophisticated smart financial instruments. The program is also in line with the "Startup India" initiative of the Indian government.

The Bank has a close relationship with KITS and is happy to formalize that partnership with this MoU.

For the past three years, the winning businesses at Elevate, the Karnataka government's premier startup event, have had the support of HDFC bank as a strategic banking partner. In collaboration with KITS, the bank has organized a number of angel investment workshops to raise awareness, the most recent of which took place earlier this month.

“HDFC Bank is committed to nation-building and it is our endeavor to support the start-up 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.” stated Mr. Ahmed Zackaria, Branch Banking HeadSouth of HDFC Bank.