Chennai, April 10: Axis Bank has entered into a Memorandum of Understanding (MoU) with the Federation of Hotel and Restaurant Associations of India, one of India’s leading hospitality industry bodies, to enhance banking support and deepen engagement across the country’s tourism and hospitality ecosystem.
The partnership enables Axis Bank to collaborate closely with FHRAI’s extensive member base, spanning hotels, restaurants, banquet operators, caterers, and allied businesses across diverse geographies. Through this initiative, the bank aims to deliver sector-specific financial solutions tailored to the evolving needs of hospitality enterprises.
Under the MoU, Axis Bank will offer a comprehensive suite of banking and transaction solutions, including specialized current account offerings with benefits such as concessions on POS rentals, cash management services, and payment solution setup fees. FHRAI members will also have access to customised financial products, 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 strong demand driven by rising incomes, domestic travel, and improving infrastructure. Our partnership with FHRAI reflects our ecosystem-led approach to deliver relevant, sector-aligned financial solutions and deepen engagement with the industry.”
Sreekesh P, Executive Vice President & Regional Branch Banking Head North 3, added,
“The hospitality ecosystem presents a dynamic opportunity across segments. Through this collaboration, we aim to strengthen on-ground engagement and build deeper relationships with businesses across regions.”
Sharing his perspective, Surendra Jaiswal, President, FHRAI, said,
“This partnership with Axis Bank will help strengthen engagement between the banking and hospitality sectors. Access to tailored financial solutions will be crucial as the industry evolves, enabling greater growth and opportunity for our members.”
As part of this collaboration, Axis Bank also participated in FHRAI’s Wedding & MICE Tourism Conclave in Lucknow, showcasing its sector-focused capabilities through targeted presentations and on-ground engagement.
With this initiative, Axis Bank reaffirms its commitment to supporting the hospitality sector through a comprehensive range of offerings, including term loans, working capital solutions, structured financing, and dedicated relationship management. The partnership aims to strengthen ecosystem collaboration and support businesses—especially smaller establishments—in navigating growth opportunities and operational challenges.
