Private sector lender HDFC Bank has launched SmartUp Zones in all its branches across India. According to the bank, the newly launched zone would be exclusively dedicated to the start-ups.
In the first phase, the bank is going to launch the SmartUp Zones in’ 65 branches in 30 cities across India, including tier two and three cities that are emerging as the start-up hubs.
The bank will train special staffs to offer custom-made banking and advisory solutions to the entrepreneurs.
In addition to this, the new SmartUP portal will assist in tapping into the knowledge and experience of a complete network of start-ups while concurrently offering their services to the ecosystem.
The initiative is an important part of HDFC Bank’s motive to nurture the spirit of innovation and enterprise by promoting the start-ups.
The SmartUp Zones in branches were launched at a function in Delhi by Yaduvendra Mathur, Additional Secretary, Niti Aayog and Smita Bhagat, Head of E-commerce and Branch Banking Head, HDFC Bank.
“At HDFC Bank, we believe that start-ups need partners, who will be with them right from the start of their entrepreneurial journey, creating solutions that evolve as the company grows. With this in mind, we are working towards creating a complete ecosystem to nurture the spirit of innovation and enterprise in the start-up space that will spur job creation and bring economic benefits to the country. After the launch of SmartUp last year, we are taking offerings for start-ups to the next level this year. We have also revamped the SmartUp product suite to include escrow accounts for investors and demat shares for these unlisted companies for raising funds,” said Smita Bhagat, Head of E-commerce & Branch Banking Head, HDFC Bank.