HDFC Bank and Rajasthan Govt. partner to promote startup ecosystem within the state

HDFC Bank and the government of Rajasthan have come together to promote and nurture startups from the state wherein the bank will provide end-to-end solutions including current accounts, credit cards and more under its SmartUp programme. HDFC Bank will also assist startups in showcasing their offerings to the general public.

In the presence of Satyen Modi, Zonal Head of HDFC Bank, an MoU was signed between Akhil Arora, principal Secretary – IT and Communication, Government of Rajasthan and Smita Bhagat, Head – Branch Banking, Government Business and Ecommerce at HDFC Bank.

Smita Bhagat, talking about the partnership said, “We believe that for startups to thrive, an ecosystem needs to created where relevant stakeholders come together to be with them right from the start of their entrepreneurial journey and create solutions that evolve as the company grows. We are confident that the customized solutions we can offer under SmartUp programme to startups will help nurture innovation in the state. The MOU is the first step towards a larger goal to encourage entrepreneurship and job creation in the state of Rajasthan”.

HDFC Bank is looking to grow their presence in the India’s startup ecosystem and claims to be working with 150 startups across the country. The bank had also launched a fund for startups with a corpus of $25-30 million. Over the coming years, they are planning to launch SmartUp Zones in 65 of its branches across 30 cities – which also includes tier 2 and 3 cities.