HDFC Bank has entered into a memorandum of understanding with CSC eGovernance Services India and Confederation of All India Traders (CAIT) to offer a full range of banking products and services to all CAIT members, nearly 6 crore in number. The bank said this first-of-its kind grassroots initiative will transform rural economy and benefit small merchants and traders even in remote places. The bank will offer services including opening of a current account and issuance of Bharat QR code to promote digitization and reduce cash transactions in line with the objectives of Digital India. The bank will also offer the recently launched Small Business Moneyback Credit Card to provide easy access to small business finance to CAIT members. Smita Bhagat, head – Government & Institutional Business and e-Commerce, HDFC Bank, Dinesh Kumar Tyagi, CEO, CSC and Praveen Khandelwal, national secretary general, CAIT, signed the documents. Bhagat said entrepreneurs are the backbone of the economy and this MoU will ensure that they have easy access to the business finance and banking products that they need to prosper. Earlier, the bank has finalized a tie-up with CSC SPV to take banking and financial services to the doorsteps of people living in remote areas of the country through its network of over 1 lakh VLEs.
