KIADB inks MoU with HDFC Bank to offer Banking solutions to investors

On June 08,2021,Karnataka industrial area development bored (KIADB)signed a of understanding (MoU) for 3 years with HDFC Bank to provide a wide range of financial products and services to its customers.

key points:

  1. To attract more investments into Karnataka and to make the land acquisition for industrial purposes more affordable . KIADB collaborated with HDFC Bank to enable its eligible investors/customers of KIADB to avail of  credit facilities from HDFC Bank as per bank process and Policies.
  2. As per the MoU, KIADB nominated HDFC Bank as one of its banking partners to finance it’s eligible customers/ allottees   of  industrial land/plot for of industrial land plot for setting up their project, HDFC Bank also accepts the nomination.
  3. HDFC Bank will offer credit facilities to eligible companies/ investors of KIADB up to 75 % of the project.

About karnataka industrial Area Development Board (KIADB)

Establishment – 1966 through KIAD act

Headquarters – Bengaluru, Karnataka

CEO & Executive Member – N Shivashankara

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