Mumbai: In a move aimed at giving India's startup ecosystem a stronger financial footing, IndusInd Bank has entered into a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT).
The partnership merges DPIIT’s Startup India framework with IndusInd Bank’s financial products to provide early-stage companies access to customised banking services such as cash management, working capital, and credit facilities.
Startups recognised by DPIIT will also benefit from enhanced provisions under the Credit Guarantee Scheme for Startups (CGSS), including collateral-free loans of up to ₹20 crore. The guarantee fee for debt funding in 27 Champion Sectors has also been slashed to help ease the flow of capital.
A statement from the bank noted, “This strategic partnership brings together the strengths of DPIIT’s Startup India initiative and IndusInd Bank’s financial expertise to create opportunities for startups, innovators, and entrepreneurs nationwide.”
The new measures are designed to help startups raise capital and invest in advanced manufacturing and technology. The MoU aims to build a stronger financial ecosystem that goes beyond traditional banking, with an eye on faster scale-up and international competitiveness.
“By combining policy support with financial innovation, IndusInd Bank and DPIIT are committed to nurturing the next generation of Indian unicorns and positioning India as a global hub for entrepreneurship,” the bank added.
BI Bureau
