HDFC Bank signs MoU with Manipal Business Solutions for corporate business correspondent relationship

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Mr. Kamaljeet Rastogi, CEO, MBS, said “Our expertise in the financial inclusion domain, led by our SahiPay merchant network and backed by cutting-edge technology makes us the right partner for HDFC Bank to extend their banking services to the unbanked. Through this partnership, we’ll offer all asset and liability banking products & services, which is in line with our vision of providing affordable banking access in rural India.”

About Manipal Business Solutions Private Limited (MBS)

Manipal Business Solutions Private Limited (MBS) is fully owned subsidiary of Manipal Technologies Limited (MTL) which has established a major presence in the areas of BFSI, Telecom, Education, Healthcare, IT, Retail, Printing and Publishing, with a workforce of 8000+ providing solutions and services to its clients.

MBS is one of the leading FinTech players in the country and most preferred partners for “Rural Unified Banking Services” commonly known as Financial Inclusion initiative in India. It provides end-to-end Integrated technology solutions and has presence in entire value chain for these initiatives including customer facing business correspondents. MBS has been in the forefront of providing Banking and Digital payment services in 90,000 villages in India serving over 2.3Cr population with their technology. With its evolved portfolio of integrated solutions and proven track record to smoothly execute large-scale turnkey projects, MBS is today a symbol of reliability, security and trustworthiness for all its customers.

Media contacts for MBS:

Illa Malla |ila.malla@genesis-bcw.com | +91 63669 45060
Pranoy Dsouza | pranoy.dsouza@genesis-bcw.com | + 91 74835 29134

About HDFC BANK

For more information please log on to: www.hdfcbank.com.

For media queries please contact:

Rajiv Banerjee
Vice President, Corporate Communications
HDFC Bank Ltd., Mumbai.
Tel: 91-22-66521307(D)/66521000(B)
Mobile: 9920454102
rajivshiv.banerjee@hdfcbank.com