HDFC Bank has launched SmartUp, a dedicated solution for startups to fulfill all their banking needs. The solution is tailored to meet all the requirements of startups in banking and payments as well as advisory and forex services. The bank intends to create an ecosystem to nurture the spirit of innovation and enterprise in the startup space and SmartUp is one initiative in this direction. The bank launched the product in association with Zone Startups India, a startup accelerator in Mumbai, which is a joint effort between BSE Institute, a subsidiary of the Bombay Stock Exchange, Ryerson University’s accelerator Digital Media Zone, Ryerson Futures and Simon Fraser University. At a function organized at the Bombay Stock Exchange, SmartUp for start-ups was launched by Navin Puri, country head – Branch Banking of the bank, and Ajay Ramasubramaniam, director, Zone Startups India inaugurated the facility. Smita Bhagat, branch banking head – North & West and co-head, eCommerce and Parag Rao, country head – Card Payment Products, Merchant Acquiring Services and Marketing of HDFC Bank, were present. A statement from the bank listed the benefits of SmartUp as enhanced transaction limit with no minimum balance requirement for first six months, customized salary account offering coupled with best-in-class services and largest suite of product range, PayZapp for Business – for providing invoicing, delivery and collection solutions and secure money transfer, dedicated relationship manager for taking care of all banking needs as well as investment advisory, and recommendation of a chartered accountant for tax, regulatory and compliance issues.
