Axis Bank inks MoU with FHRAI to offer banking and transaction solutions to hospitality sector

Axis Bank has signed a Memorandum of Understanding (MoU) with Federation of Hotel and Restaurant Associations of India (FHRAI) to encourage association with the hospitality sector of the country. The MoU was signed in presence of senior officials from both organisations.       

The partnership will offer a range of banking and transaction solutions designed for tourism and hospitality businesses, including a specialised current account with benefits such as concessions on Point of Sale (POS) rentals, cash management services and payment solution setup fees. Based on the eligibility, FHRAI members will get access to customised financial products based on their business needs.   

“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,” says Vijay Shetty, President and Head-Commercial Banking Group, Axis Bank.

“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,” says Surendra Jaiswal, President, FHRAI.

As per a statement, the MoU underscores Axis Bank’s commitment to supporting the sector with a full range of financial solutions, including term loans, working capital, structured financing and dedicated relationship management, especially aimed at helping smaller businesses manage costs and grow.