The Karnataka Innovation and Technology Society (KITS) and HDFC Bank signed a Memorandum of Understanding. According to the agreement, HDFC Bank will provide banking and financial services to businesses registered with the ‘Karnataka Startup Cell’ as part of HDFC Bank’s ‘SmartUp Program’.
The agreement was signed at the 25th Bengaluru Tech Summit. In the presence of other State Government officials, Smt. Meena Nagaraj C N, IAS, Managing Director, Karnataka Innovation and Technology Society (KITS), and Ahmed Zackaria, Branch Banking Head South, HDFC Bank signed the MoU. Rajnish Barua, Zonal Head Branch Banking at HDFC Bank, and Mithun John, Startup Vertical Head, were in attendance.
The ‘SmartUp Program’ is HDFC Bank’s main programme to enhance the country’s start-up ecosystem. The initiative intends to help start-ups achieve their objectives by utilising the bank’s well-known and cutting-edge smart financial technologies. The programme also aligns with the Indian government’s ‘Startup India’ strategy.
The Bank has long been connected with KITS and is pleased to formalise the relationship with this MoU. For the past three years, HDFC Bank has been a key banking partner to the winning businesses at the Karnataka Government’s premier startup event, Elevate. In collaboration with KITS, the bank has organised a number of angel investment seminars to raise awareness, the most recent of which was held earlier this month.
Ahmed Zackaria, Branch Banking Head South HDFC Bank said, “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.”