HDFC to offer banking services to small traders

HDFC Bank Thursday signed an MoU with CSC eGovernance Services India Limited and Confederation of All India Traders (CAIT) to offer a full range of banking products and services to all CAIT members CSCs. C

AIT is a leading advocate for small traders and businesses in India, with around 6 crore members.

“This first-of-its kind grassroots initiative will transform rural economy and benefit small merchants and traders even in remote places,” a statement issued by the HDFC said.

HDFC Bank will offer services including opening of a current account, and issuance of Bharat QR code to promote digitalisation and reduce cash transactions in line with the objectives of Digital India. The bank will also offer the recently launched Small Business Moneyback Credit Card to provide easy access tosmall business finance to CAIT members, it said. The MoU was signed by Smita Bhagat, Head – Government & Institutional Business and e-Commerce, HDFC Bank, Dinesh Kumar Tyagi, CEO, CSC and Praveen Khandelwal, National Secretary General, Confederation of All India Traders (CAIT) in Jaipur.