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.
- 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.
- 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.
- 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