HDFC Bank, India  has launched SmartUp, a dedicated solution for startups to fulfil all their banking needs. It was launched in association with a Mumbai-based start-up accelerator Zone Startups India (ZSI).

SmartUp is tailored to meet all the requirements of a startup. It is a complete banking solution meant for startups. It will be offering banking and payment solutions, along with forex and advisory services to startups. SmartUp will provide facility of current account. It will include waiver of AMB (average monthly balance) for the first six months and extendable to 12 months/ It will also include salary account for employees by waiving the minimum number of employees criteria. SmartUp will also provide HDFC’s ‘PayZapp’ for business – a payment and collection solution and a dedicated relationship manager. Accountholders will also get recommendations of regulatory and compliance issues and also chartered accountant for tax related issues. Startups will also get the opportunity to showcase their products on SmartBuy to 32 million HDFC Bank customers.

Zone Startups India (ZSI): It is a joint venture of Canada based Ryerson University and Bombay Stock Exchange Institute (BSEI). It has been operational for over two years and has helped over 70 startups.