Private sector HDFC Bank launched an initiative for providing tailor-made banking and advisory solutions to startups through SmartUp zones. These zones will be an exclusive area inside the branch dedicated to startups.

In the first phase, SmartUp Zones will be launched in over 65 branches in 30 cities across India, including tier 2 and 3 cities that are emerging as startup hubs, HDFC Bank head e-commerce and branch banking Smita Bhagat said here.

SmartUp zones was launched by NITI Aayog Additional Secretary Yaduvendra Mathur here. Furthermore, Bhagat said by accessing the bank's new SmartUp portal; startups will be able to tap into the knowledge and experience of a complete network of startups, while simultaneously offering their services to this universe.

This initiative is part of a larger effort by HDFC Bank to create an ecosystem to nurture the spirit of innovation and enterprise in the startup space, she said. "SmartUp is tailored to meet all the requirements of a start-up, offering banking and payment solutions, along with advisory and forex services. This year, the bank is taking its start-up offering to the next level with dedicated start-up zones," she said. These will provide startups assistance with partnerships and alliances in terms of cost savings and growth levers, she added.