Speaking about the initiative, Smita Bhagat, Branch Banking Head – North and Co-Head, eCommerce, HDFC Bank, said, “We believe start-ups in India need partners, who will be with them right from the start of their entrepreneurial journey, creating solutions that evolve as the company grows. This offering has been created after working with them to understand their requirements and will be available across India, even in tier 2 and 3 cities which emerging as startup hubs.”
This initiative is part of a larger effort by HDFC Bank to create an ecosystem to nurture the spirit of innovation and enterprise in the start-up space.
The launch
SmartUp for start-ups is a complete banking solution created by HDFC Bank. It not only provides the basic banking transactions, but also valuable services like advisory services, forex and payment solutions.”
In a function organized at the Bombay Stock Exchange, SmartUp for Start-ups was launched by Navin Puri, Country Head – Branch Banking, HDFC Bank and Ajay Ramasubramaniam, Director – Zone Startups India along with Smita Bhagat, Branch Banking Head – North and Co-Head, eCommerce and Mr. Parag Rao, Country Head – Card Payment Products, Merchant Acquiring Services and Marketing from HDFC Bank. The launch was also attended by senior officials of HDFC Bank and also startup companies.
“We are happy to be a part of the launch of SmartUp, a bespoke banking solution for start-ups launched by HDFC Bank. To drive the entrepreneurial spirit and growth, start-ups, particularly at the initial stages, need a tailored banking solution and SmartUp meets their requirements,” expressed Ajay Ramasubramaniam, Director – Zone Startup India.
The benefits
Waiver of AMB for the first six months and extendable to 12 months,
Salary Account for employees by waiving the minimum number of employees criteria,
PayZapp for Business – a payment and collection solution,
Dedicated Relationship Manager, Recommendation of a Chartered Accountant for Tax, Regulatory and Compliance issues,
Opportunity to showcase products on SmartBuy to 32 million HDFC Bank customers.
