Shares of HDFC Bank settled 0.15 percent higher at Rs 1,569.15 apiece on the BSE.The country's biggest personal loan provider - HDFC Bank has signed a memorandum of understanding (MoU) with the National Small Industries Corporation or NSIC to offer credit assistance to MSMEs across the nation, according to a statement shared by the bank of Tuesday, September 7.
As part of the monetary arrangement, HDFC Bank will provide a set of specially tailored plans for the micro, small and medium enterprises (MSMEs).
Different branches of HDFC Bank will extend assistance to the MSME projects in the areas where they are located, or at other important commercial sectors throughout the country.
HDFC Bank will accept the loan applications forwarded by NSIC and will consider approving loans on a benefit basis and according to the loaning norms in its financing policy The bank will be associated with financing tasks associated with the MSME sector at various locations where its branches are located throughout the country.
As a bank we enjoy to be part of this big initiative to reboot and provide needed fillip to the economy.
We believe this collaboration with NSIC will help expedite the MSME sector development which is the foundation of the nation both in terms of financial advancement and task development, said Mr.
Rahul Shukla, Group Head - Commercial and Rural Banking, HDFC Bank.On Tuesday, September 7, shares of HDFC Bank settled 0.15 percent higher at Rs 1,569.15 each on the BSE.
HDFC Bank opened on the BSE at Rs 1,566.80, touching an intra day high of Rs 1,581.95 and an intra day low of Rs 1,555.25, throughout the trading session today.
The bank intends to restore its lost market share in credit cards in the next three-four quarters after the Reserve Bank of India (RBI) raised the ban troubled it more than 8 months back.