SmartUp for Startups Launched by HDFC Bank [ Current Affairs ]

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SmartUp has been launched by India’s second-largest private sector lender HDFC Bank, a dedicated solution for startups to satisfy all their banking requirements with the association with a Mumbai-based start-up accelerator Zone Startups India (ZSI).

Key facts:

  • SmartUp is personalized to meet all the requirements of a startup.
  • It is a complete banking solution destined for startups.
  • It will be contribution banking and payment solutions with forex and suggestion services to startups.
  • SmartUp will offer ability of current account.
  • It will comprise waiver of AMB (average monthly balance) for the first six months and extendable to 12 months/It will also contain salary account for employees by waiving the minimum number of employees criteria.
  • SmartUp will also offer HDFC’s ‘PayZapp’ for business – a payment and collection solution and a committed relationship manager.
  • Accountholders will also get references of directing and compliance issues and also chartered accountant for tax associated issues.
  • Startups will also get the occasion to display their goods on Smart Buy to 32 million HDFC Bank customers.

Zone Startups India (ZSI):

  • It is a joint project of Canada based Ryerson University and Bombay Stock Exchange Institute (BSEI).
  • It has been effective for over two years and has helped over 70 startups.

About Ryerson University:

  • Ryerson University is a public research university.
  • It is located in downtown Toronto, Ontario and founded in 1948.
  • The university mainly focuses on applied, career-oriented education.
  • The most of its buildings are in the blocks northeast of the Yonge-Dundas Square in Toronto’s Garden District.
  • Ryerson’s business school, Ted Rogers School of Management is on the southwest end of the Yonge-Dundas Square, located on Bay Street, slightly north of Toronto’s Financial District and is selected to the Toronto Eaton Centre.

- Published on: May 20, 2016