The Hindu Business Line : HSBC product for small businesses

Reaching them online: (From left) Mr Puneet Chaddha, Managing HSBC India; Ms Margaret Leung, Group General Manager, Global Co-Head , HSBC; and Ms Naina Lal Kidwai, Country Head for India, at a press conference in Mumbai on Tuesday. –

Our Bureau

Mumbai, July 8 HSBC India has launched an online product for SMEs, which offers facilities such as zero balance requirements, free online transactions, free cash withdrawal up to Rs 2 lakh at 23,000 Visa ATMs and multiple debit cards.

The bank hopes to overcome the constraints of a limited branch network and attract more SME clients through the product called HSBC Direct, said Ms Naina Lal Kidwai, CEO and Country Head, HSBC India.

Ms Kidwai said, “We have a huge focus on SMEs. This way we can get to SME clients through technology.”

India is the third country after UK and Ireland that HSBC Direct has been launched. It will next be launched in Hong Kong, said Ms Margaret Leung, Group General Manager and Global Co-Head Commercial Banking, HSBC.

Mr Puneet Chadda, Managing Director and Head of Commercial Banking, HSBC India, said this product allows multiple channels such as Internet and mobile banking .

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