HDFC Bank today signed a Memorandum of Understanding with Karnataka Innovation and Technology Society (KITS), Government of Karnataka. As per the MoU, HDFC Bank is to provide banking and financial services to startups registered with 'Karnataka Startup Cell' under HDFC Bank's 'SmartUp Program.'
The MoU was signed at the 25th edition of Bengaluru Tech Summit. Smt. Meena Nagaraj C N, IAS, Managing Director, Karnataka Innovation and Technology Society (KITS) and Mr. Ahmed Zackaria, Branch Banking Head South, HDFC Bank signed the MoU in the presence of other State Government officials. From HDFC Bank, Mr. Rajnish Barua Zonal Head Branch Banking and Mr. Mithun John, Startup Vertical Head, were present.
'SmartUp Program' is HDFC Bank's flagship initiative to promote the start-up ecosystem in the country. The program aims to assist start-ups in achieving their goals through the bank's well renowned and highly advanced smart financial tools. The program is also in line with the Government of India's 'Startup India' initiative.
The Bank has been closely associated with KITS and is now glad to formalize the partnership through this MoU. HDFC bank has been a key Banking partner to the winning startups at Karnataka Government's flagship startup event, Elevate, for the last 3 years. The bank has organised multiple angel investment workshops to build awareness in partnership with KITS with the most recent one being held earlier this month.
Mr. 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 the 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."
Shares of HDFC Bank Limited was last trading in BSE at Rs. 1617.30 as compared to the previous close of Rs. 1632.25. The total number of shares traded during the day was 240335 in over 6247 trades.
The stock hit an intraday high of Rs. 1631.45 and intraday low of 1613.65. The net turnover during the day was Rs. 390283371.00.