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HDFC Bank launches SmartUp Zones

HDFC Bank launched SmartUp Zones in its branches across India. The bank said the SmartUp Zone is an exclusive area inside the branch dedicated to startups. 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 startup hubs. Through these zones, specially trained bank staff will offer tailor-made banking and advisory solutions to entrepreneurs. Startups will also be able to tap into the knowledge and experience of a complete network of startups by accessing the bank’s new SmartUp portal. The bank said this initiative is part of a larger effort to create an ecosystem to nurture the spirit of innovation and enterprise in the start-up space. The bank had launched SmartUp, a first-of-its-kind banking solution for startups in 2016, which is tailored to meet all the requirements of a startups. The new initiative is a scaling up of this effort. The SmartUp Zones will offer end-to-end banking solutions customized to suit requirements of startups, specially trained, dedicated staff, assistance with partnerships and alliances in terms of cost savings and growth levers, access to HDFC Bank’s SmartBuy platform, which allows them to market their product to the public and a showcase for products to over 40 million HDFC Bank customers. Yaduvendra Mathur, additional secretary – Niti Aayog, and Smita Bhagat, head of E-commerce & Branch Banking, HDFC Bank, launched the first SmartUp Zone in New Delhi.

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