MUMBAI: Largest private lender HDFC Bank has signed an MoU with the Institute of Economic Development (IEG) to fund a chair to conduct independent research.
It will be known as ‘HDFC Bank Chair of Banking and Finance’ and will be housed at IEG Complex, New Delhi, the bank said in a statement. The bank said it would support the IEG for this chair with funding support for more than five years 6.75 crores, with effect from 1st September.
The MoU was signed in the presence of HDFC Bank Chairman Atanu Chakraborty and NITI Aayog member Ramesh Chand and IEG Chairman and other senior bank officials.
IEG is widely recognized as a center of excellence and one of India’s leading think tanks in the field of economic and social development. IEG specializes in long-term research that encourages faculty to develop deeper expertise in an area. The bank said that the chairmanship of HDFC Bank will conduct research on important and emerging aspects on banking and finance and organize seminars from time to time to exchange its findings and insights.
“This will benefit the banking and financial services industry and regulators, as well as build a body of knowledge in this critical sector. Latest trends in regulation, financing of the agriculture and MSME sectors, innovation in capital markets and financial inclusion and the economics of digital transformation Drivers are some of the thrust areas for this hub within financial services.”
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