Chennai: Axis Bank, one of India’s largest private sector lenders, has entered into a Memorandum of Understanding (MoU) with the Federation of Hotel and Restaurant Associations of India (FHRAI), marking a strategic step by Axis Bank to deepen its engagement with the country’s hospitality ecosystem.
The collaboration enables Axis Bank to work closely with FHRAI’s extensive member base across India, strengthening its outreach to hospitality businesses spanning multiple segments and geographies.
Through this partnership, Axis Bank aims to expand its ecosystem-led approach and deliver sector-aligned financial solutions to hospitality enterprises.
Under the agreement, Axis Bank will provide a comprehensive suite of banking and transaction solutions tailored to the specific needs of businesses within the tourism and hospitality sector.
These offerings include a specialized current account proposition featuring transaction banking benefits such as concessions on POS rentals, cash management services, and payment solution setup fees.
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FHRAI Members Gain Access to Customised Financial Offerings from Axis Bank, Subject to Eligibility and Business Eequirements
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.”
Sreekesh P, Executive Vice President & Regional Branch Banking Head North 3 at Axis Bank, 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, 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 collaboration, Axis Bank also participated in FHRAI’s Wedding & MICE Tourism Conclave held in Lucknow, where it showcased its sector-focused capabilities through targeted presentations and on-ground engagement.
With this MoU, Axis Bank reiterates its commitment to supporting the hospitality sector by offering a wide range of financial solutions, including term loans, working capital support, structured financing, and dedicated relationship management.
The initiative by Axis Bank aims to deepen ecosystem engagement and deliver solutions aligned with sector-specific needs, particularly for smaller establishments navigating cost fluctuations and scaling opportunities.
