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 specialised current account proposition with transaction banking benefits, including 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.

Vijay Shetty, President & Head – Commercial Banking Group, Axis Bank, said, “The hospitality sector is experiencing strong demand thanks to rising incomes, domestic travel, government focus, and better infrastructure. Axis Bank is deepening its focus on the sector by taking an ecosystem-led approach. Our partnership with FHRAI enables us to better engage with the industry and deliver relevant financial solutions. We also look forward to future collaborations that create mutual value.”

Speaking on the development, Mr 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, Mr 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 reinforces its commitment to supporting the hospitality sector by offering a comprehensive suite of banking solutions, including term loans, working capital support, structured financing, and dedicated relationship management. This collaboration is intended to deepen engagement within the hospitality ecosystem and ensure that financial solutions are accessible and well-suited to sector needs, particularly for smaller establishments seeking to manage costs and seize growth opportunities.