HDFC Bank has entered into a MoU with the Startup Hub (MSH) of the ministry of electronics and information technology (MeitY). Startups enrolled with MeitY will now have access to a holistic suite of services including banking accounts designed especially for startups, advisory and mentorship programs, as well as access to incubators to accelerate growth. MeitY is responsible for IT policy, strategy and development of electronics industry. The MoU was signed by Deepak Agarwal, CEO, MeitY Startup Hub and Smita Bhagat, country head – Government and Institutional Business, eCommerce and Startup, HDFC Bank. The bank has developed a smart solution called the SmartUp Program to assist startups realize their goals with financial tools, advisory services and technology and a specialized end-to-end banking solution which includes corporate salary accounts (with no requirement of minimum number of employees per startup), forex advisory services, payment and collections solutions & POS terminals at preferred rates and nodal accounts for market places among others.
