SIDBI and HDFC Bank to jointly provide MSMEs comprehensive financial services

Hyderabad, June 7 (KNN) Small Industries Development Bank of India (SIDBI) on Tuesday signed a MoU with HDFC Bank Limited for providing financial solutions to Micro, Small and Medium Enterprises (MSMEs).

The pact was executed by V. Satya Venkata Rao, Deputy Managing Director, SIDBI and Akhilesh Kumar Roy, Executive Vice President National Head Sales Excellence and Transformation, HDFC Bank Limited.

Under the MoU, SIDBI and HDFC Bank Limited would work together to provide wide-ranging financial product & services to the MSME customers.

Speaking regarding the agreement with HDFC Bank Limited, Rao, said, “This arrangement will enable MSMEs to avail financial products and services of both the banks. Both banks will endeavour to bring more MSMEs in financial ecosystems through the arrangement.”

The MoU will facilitate providing complete financial solutions to MSMEs in a seamless manner.  (KNN Bureau)