Axis Bank partners with FHRAI to strengthen banking support for India’s hospitality sector
The Voice of Chandigarh | Travel Trade Reporter
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, 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, 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.
