HDFC Bank launches SmartUp Zones for start-ups

Srinagar: HDFC Bank today announced the launch of SmartUp Zones in its branches across India. A SmartUp Zone is an exclusive area inside the branch dedicated to start-ups. In the first phase, SmartUp Zones will be launched in over 65 branches in 30 cities across India, including tier 2 and 3 cities that are emerging as start-up hubs.

Through these zones, specially trained bank staff will offer tailor-made banking and advisory solutions to entrepreneurs. Furthermore, by accessing the bank’s new SmartUp portal:>, start-ups will be able to tap into the knowledge and experience of a complete network of start-ups while simultaneously offering their services to this universe.

The  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 journey began with the launch of SmartUp, a first-of-its-kind banking solution for start-ups last year. SmartUp is tailored to meet all the requirements of a start-up, offering banking and payment solutions, along with advisory and forex services. This year, the bank is taking its start-up offering to the next level with dedicated start-up zones.

At a function organized in Delhi, SmartUp Zones in branches were launched by YaduvendraMathur, Additional Secretary – NitiAayog, Government of India and SmitaBhagat, Head of E-commerce & Branch Banking Head, HDFC Bank, in the presence of senior bank officials.

“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 SmitaBhagat, Head of E-commerce& Branch Banking Head, HDFC Bank.

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