State-owned Small Industries Development Bank of India (SIDBI) has entered into a Memorandum of Understanding (MoU) with HDFC Bank for providing financial solutions to MSMEs.
Under the MoU, SIDBI and HDFC Bank will work together to provide complete financial products and services to the customers under Micro, Small, and Medium Enterprises (MSMEs).
The MoU will facilitate providing complete financial solutions to MSMEs in a seamless manner.
This arrangement will enable MSMEs to avail financial products and services of both banks.
Both banks will endeavor to bring more MSMEs into financial ecosystems through the arrangement.