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HDFC Bank and ICCI Signs MoU to Empower SMEs and Start-ups

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HDFC-bank-,ICICI-tie-up-to-empower-SMEs-and-startupOn November 24, 2020 In its effort to support SMEs(Small and Medium-sized Enterprises) and Start-ups  ICCI (Inventivepreneur Chamber of Commerce and Industries) has signed MoU(Memorandum of Understanding) with HDFC Bank

Aim of the MoU– To empower SMEs and Startups

Key Info

Through this association ICCI engages, enrols and supports various Startups /SMEs /MSMEs(Micro, Small and Medium Enterprises) to facilitate financial and other facilities to/from HDFC Bank.

Provisions of the MoU

Role of HDFC Bank

i.HDFC Bank may offer bank accounts to Startups that are supported by ‘Inventivepreneur’.

ii.It will provide vital  business support functions namely, shared workspaces, digital marketing, web services, Patent filing, content writing, tax, and legal advisory to ICCI recommended businesses.

Role of ICCI

i.ICCI evaluates and recommends potential Startups /SMEs /MSMEs for investments.

ii.It supports businesses to find solutions to the requisite stakeholders  and provides them an opportunity to showcase their solutions

iii.It reviews and examines the overall profile of the businesses.

iv.It sensitizes investors to listed SME-Startups and curate startups.

v.It offers industry connectivity to the respective HDFC startups globally and supports entrepreneurship across the country through knowledge transmission on government announced programs, Acceleration Fund, International Presence and Global Business Relations.

vi.ICCI enrols and engages HDFC Bank listed businesses under exclusive flagship programs like Investor Pitch Day, Livewithmalhotra, #CrossBorder, International Business Exchange Programs and Inventivepreneur TV Show.

Note

ICCI and HDFC Bank jointly conduct diverse networking activities, awareness camps and interactive sessions, Business Events.

Other MoU signed by ICCI to empower SMEs & Start-ups

On 24th October 2020, BSE (formerly known as Bombay Stock Exchange Ltd) signed MoU with ICCI to support Small and Medium Enterprises(SMEs) and start-ups & promote their listing on the exchange.

Recent Related News:

On September 28, 2020, BSE (formerly Bombay Stock Exchange) had signed an Memorandum of Understanding (MoU) with Yes Bank in order to empower the Small and Medium Enterprises (SMEs) that are listed on the BSE through awareness and knowledge-sharing programmes.

About ICCI (Inventivepreneur Chamber of Commerce and Industries):
HeadQuarters– New Delhi, India
President– Ritika Yadav

About HDFC Bank:
Incorporated– August 1994
Headquarters – Mumbai, Maharashtra
Managing Director(MD) and Chief Executive Officer(CEO)–  Sashidhar Jagdishan(Succeeds Aditya Puri)
Tagline– We understand your world