Mumbai: Axis Bank, one of the largest private sector banks in
India, has entered into a Memorandum of Understanding (MoU) with the Federation
of Hotel and Restaurant Associations of India (FHRAI), one of the country’s
apex hospitality industry bodies.
The MoU, signed in the
presence of senior representatives from both organisations, enables Axis Bank
to engage more closely with FHRAI’s extensive member base across the country,
strengthening collaboration with hospitality businesses across segments and
geographies.
Under the partnership,
Axis Bank will offer a suite of banking and transaction solutions designed to address the
specific needs of businesses across the tourism and hospitality ecosystem. These include a specialized current account proposition
with transaction banking benefits such as concessions on POS rentals, cash
management services, and payment solution setup fees.
Additionally, FHRAI members may get access to
customised financial offerings, subject to eligibility and business
requirements.
Commenting on the partnership,
Vijay Shetty, President & Head – Commercial Banking Group, Axis Bank,
said, "The hospitality sector continues to witness sustained underlying
demand, driven by rising income levels, domestic travel, government focus, and
improving infrastructure. At Axis Bank, we are deepening our focus on this
sector through a more ecosystem-led approach. Our partnership with FHRAI is a
step towards engaging more meaningfully with the industry and delivering
relevant, sector-aligned financial solutions. Axis Bank and FHRAI also look
forward to exploring opportunities for engagements through future FHRAI engagements,
with a focus on mutual value creation.”
Speaking on the
development, Mr. Sreekesh P, Executive Vice President & Regional Branch
Banking Head North 3 said, “The hospitality ecosystem, particularly across
Uttar Pradesh, presents a diverse and dynamic opportunity spanning hotels,
banquet operators, caterers, and allied segments. Through this collaboration
with FHRAI, we see an opportunity to strengthen our on-ground engagement with
businesses and build deeper relationships by driving consistent engagement with
the sector.”
Sharing his perspective on the partnership, Mr.
Surendra Jaiswal, President, FHRAI, said: “We are pleased to partner
with Axis Bank in strengthening engagement between the banking and hospitality
sectors. As the industry continues to evolve, access to relevant and sector-aligned
financial solutions will be important for our members. This collaboration is
expected to facilitate greater awareness, access, and engagement opportunities
for hospitality businesses across the country.”
As part of this
engagement, Axis Bank also participated in FHRAI’s Wedding & MICE
Tourism Conclave at Lucknow, where it showcased its sector focused
capabilities through a targeted presentation and on ground presence.
With this MoU, Axis Bank reiterates its
commitment to supporting the hospitality sector through a comprehensive suite
of banking solutions, including term loans and working capital support,
structured financing, and dedicated relationship management. The collaboration
aims to deepen ecosystem engagement and enable the delivery of solutions aligned
with sector needs, particularly for smaller establishments navigating cost
fluctuations and scaling opportunities.