Housing Development Finance Corporation Bank that is HDFC Bank is an Indian banking company that has headquarters in Mumbai HDFC is the largest private sector bank by assets and market capitalization as of April 21.
BSE is also known as Bombay stock exchange is an Indian stock exchange organization located in Mumbai. It was established in 1875. It is the oldest stock exchange in India and 10th in the world. The market cap of the Bombay stock exchange is over 255 trillion rupees as of September 2021.
Bombay stock exchange has signed an (MOU) memorandum of understanding with HDFC Bank to encourage the listing of SMEs and promote the same also with the small companies all across India.
At the start of this week the news came out that is BSE and HDFC will be joining their hands to promote startups and SMB listing this is to further encourage and small businesses and medium scale businesses across India.
They will be working on the solutions for banking and also of lending to the upcoming entrepreneurs in the attempt of making banking services and listing services available easily. They will be looking at startups undergoing listing process startups and SME organizations.
The role of HDFC Bank will be to identify potential startups and SMEs and help them to part with their immediate bankers, chartered accountants, and lawyers to list themselves on BSE.
Both have agreed to increase the outreach by joining hands. They will conduct and participate in the outreach activities and contribute to each other’s publications on the startup ecosystem in India.
Iqbal Gilani SVP of retail banking branch HDFC Bank has said, “startups are reimaging and reshaping the world we live in a full stop at HDFC Bank we are committed to developing strengthening, and collaborating with the startup community and ecosystem in the country.”
This collaboration will help many small and medium scale entrepreneurs and also small scale companies to get their businesses going hassle-free as far as banking is concerned and also get themselves listed on BSE. This collaboration will be closely monitored by many of the other banking organizations considering their interest to do the same.