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HDFC Launches New Credit Card For Entrepreneurs


In a move that will typically help villagers across India aiming to start their new business to gain access to easy credit line, the private-sector lender has introduced a new credit card in tie-up with the government's Common Service Centre (CSC) SPV. The Small Business MoneyBack Credit Card will cater specifically to Village Level Entrepreneurs (VLEs) and VLE-sourced borrowers of CSC.

HDFC Launches New Credit Card For Entrepreneurs

The card was launched as part of a day-long workshop organized by the CSC SPV for VLEs that celebrated CSC Diwas at Siri Fort Auditorium, New Delhi. On the occasion were present, Aditya Puri, Managing Director, HDFC Bank and Dinesh Kumar Tyagi, CEO, CSC.
The credit card will help these village level entrepreneurs meet their day-to-day business expenses.

In July last year, HDFC Bank and CSC entered into a MoU for an arrangement that aims to provide banking services to people in rural India with limited access to formal banking solutions.

Smita Bhagat , Head -Government & Institutional Business and e-Commerce, HDFC Bank said, "We are extremely happy to be part of this occasion and help empower women VLEs. We have launched the Small Business MoneyBack Credit Card as a part of this commitment. It is our endeavor to help and provide services across all geographies with focus on making rural India become prosperous. This is part of the larger objective of offering the same range of customized products and services in rural India as in urban India."

Story first published: Thursday, July 18, 2019, 12:32 [IST]
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