HDFC Bank and ICICI Bank to support SMEs and Start-ups

Published on November 27, 2020
Current Context: India two major private sector banks, HDFC Bank and ICICI Bank have collaborated to support SMEs and Star-ups in India.
HDFC Bank and ICICI Bank to support SMEs and Start-ups
  • Under this partnership, ICICI Bank will motivate various Start-ups and SMEs or MSMEs to enrol themselves with an aim to get support and financial facilities to/from HDFC Bank.
  • For this purpose, both HDFC Bank and ICICI Bank will conduct awareness camps, interactive sessions, seminars and business events.
  • Under this partnership, HDFC Bank will offer the facility of bank accounts to startups which are supported by ‘Inventivepreneur’. 
  • It will also offer business support in the form of shared workplaces, digital marketing, web services, patent filing, content writing, tax and other legal advisory support to the start-ups and SMEs which are recommended by ICICI Bank. 
  • ICICI Bank will evaluate and analyze the performance of SMEs and Start-ups.
  • It will also support them to find business solutions and industry connections. 
  • Static Part: 
    • HQ of HDFC Bank and ICICI Bank: Mumbai
    • MD and CEO of HDFC Bank: Sashidhar Jagdhishan
    • MD and CEO of ICICI Bank: Sandeep Bakhshi

Question: 

Q.1 Which of the two banks partnered to support SMEs and Star-ups in India?
a. Axis Bank and Kotak Mahindra Bank
b. IDBI Bank and Yes Bank
c. HDFC Bank and ICICI Bank
d. Bandhan Bank and SBI

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