IndusInd Bank signs MoU with DPIIT to boost India's startup ecosystem
IndusInd Bank has entered into a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to support startups and promote entrepreneurship in India. The agreement aligns with the objectives of the Government of India's Startup India initiative.
Under this partnership, IndusInd Bank will offer a range of customized financial services to DPIIT-recognised startups, including:
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Cash management services
Working capital solutions
Credit facilities tailored to startup needs
A major feature of this collaboration is improved access to funding through the Credit Guarantee Scheme for Startups (CGSS). The scheme enables eligible startups to secure collateral-free loans with a raised guarantee cover of up to ₹20 crore.
In addition, guarantee fees for debt funding have been reduced in 27 Champion Sectors, helping reduce the cost of capital and improve credit accessibility for businesses in key industries.
The initiative aims to strengthen the financial ecosystem for startups, enabling easier access to credit and financial tools. This collaboration is expected to help early-stage ventures invest in advanced technologies and manufacturing processes.
This MoU represents a focused approach to bridging the gap between policy support and financial infrastructure for startups in India.
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