IndusInd Bank has signed a Memorandum of Understanding (MoU) with AIC STPINEXT, a special purpose vehicle established by Software Technology Parks of India (STPI) under the Ministry of Electronics and Information Technology (MeitY), aimed at empowering early-stage startups and MSMEs across the country.
This strategic partnership seeks to provide vital financial solutions, mentorship, and operational support to nurture innovation and long-term sustainability in the startup ecosystem.
Through this collaboration, IndusInd Bank will offer a specialised Current Account product with no requirement for quarterly average balance, making it easier for startups to manage their cash flow.
The bank will also provide value-added services, including expert guidance, financial management workshops covering topics like banking basics, equity infusion, ESOPs, and sector-specific funding strategies. Moreover, early-stage startups will benefit from complimentary payroll and attendance management services, enhancing their operational efficiency.
The initiative is part of a shared mission to create a thriving entrepreneurial environment by equipping startups with the necessary resources and financial tools to grow. Both organizations aim to build a robust ecosystem where innovative ideas can flourish and contribute meaningfully to India’s economic progress.
IndusInd Bank, with over 42 million customers and a presence in more than 1,60,000 villages across India, continues to invest in digital transformation and inclusive financial solutions. As of December 31, 2024, the bank operates 3,063 branches and 2,993 ATMs. It has also established international offices in London, Dubai, and Abu Dhabi to cater to the global Indian diaspora.
This partnership reflects IndusInd Bank’s ongoing commitment to innovation, entrepreneurship, and nation-building through collaborative support to India’s growing startup landscape.
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