IndusInd Bank signs pact to support early-stage startups
IndusInd Bank
on Monday said it has signed a pact with AIC STPINEXT to provide
early-stage startups
and
MSMEs
essential financial solutions and structural support. AIC STPINEXT is a special purpose vehicle of
Software Technology Parks of India
(STPI) under the Ministry of Electronics and Information Technology (MeitY).
"Under this collaboration, IndusInd Bank will deliver a range of tailored banking solutions to support early-stage startups associated with STPI/STPINEXT.
"The Bank will offer a specialized Current Account product with no quarterly average balance requirement, making it easier for startups to manage their finances," IndusInd Bank said in a regulatory filing.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Play War Thunder now for free
War Thunder
Play Now
Undo
Additionally, the Bank will offer support such as expert guidance, and conduct workshops around financial management including banking basics, equity infusion, Employee Stock Ownership Plan (Esops), segment-based funding etc.
To further support operational efficiency, the bank will offer payroll and attendance management services to early-stage startups at no cost.
Live Events
Discover the stories of your interest
Blockchain
5 Stories
Cyber-safety
7 Stories
Fintech
9 Stories
E-comm
9 Stories
ML
8 Stories
Edtech
6 Stories
Shares of IndusInd Bank were trading at Rs 782.70, up 0.05 per cent over previous close on BSE.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
China vice premier to meet US delegation for trade talks: Beijing
Chinese Vice Premier He Lifeng will meet a US delegation for talks next week in Britain, Beijing announced Saturday amid a fragile truce in the trade dispute between the two powers. He will visit the United Kingdom from June 8 to 13 at the invitation of the British government, China's foreign ministry said in a statement. It said He and American representatives will co-chair the first meeting of the China-US economic and trade consultation mechanism. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo US President Donald Trump had already announced on Friday that a new round of trade talks with China would kick off in London beginning Monday, after he spoke by phone with Chinese counterpart Xi Jinping in a bid to end a bitter battle over tariffs. Trump posted on his Truth Social platform that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer would meet the Chinese team. Live Events The discussions will mark the second round of such negotiations between the world's two biggest economies since Trump launched his trade war shortly after returning to the White House in January. A first meeting, held in mid-May in Geneva, brought a pause to the US-China trade dispute. But Trump then accused Beijing of not respecting the terms of the de-escalation agreement. On Thursday the Republican president finally discussed the issues with Xi for the first time since the trade tensions soared, assuring that the conversation had been positive. Xi for his part told Trump the two should "correct the course" of bilateral relations, according to remarks quoted by official Chinese media.
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
UP CM directs officials to take action against fake, shell companies
Uttar Pradesh Chief Minister Yogi Adityanath on Saturday directed officials to take action against shell companies to stop the attempts to misuse the facilities meant for genuine traders. While conducting a high-level review of the State Tax Department, the CM directed officials to ensure transparency in tax collection and adopt a policy of technological efficiency and strict enforcement. "Tax evasion is a national crime that negatively impacts development plans and welfare schemes," he said. Stressing that the Goods and Services Tax (GST) is a consumer-based tax system, he noted that areas with higher population density are naturally expected to generate more tax revenue. He instructed officials to develop special strategies for zones where tax collection is below average. Adityanath directed that information on suspicious firms registered under Central GST (CGST) be shared with the Centre for cancellation of their registration. For firms under State GST (SGST), he ordered in-depth departmental investigations, and if irregularities are found, their registration should be canceled and FIRs lodged. The CM emphasised the need for on-site inspection of all newly registered firms, stating "fake companies should not be allowed to obstruct the rights of honest taxpayers. CM Adityanath said that such acts are an attempt to misuse the facilities meant for genuine traders, which is unforgivable. Such inspections are essential to ensure that genuine businesses can operate fairly and without interference," he said. During the meeting, officials informed the CM that Rs 18,161.59 crore in GST and VAT had been collected during April and May against the financial year 2025-26 target of Rs 1,75,725 crore.
Time of India
an hour ago
- Time of India
Circular rail network on Bengaluru's outskirts to cost Rs 81,000 crore
Bengaluru: The proposed Circular Rail Link Project on Bengaluru's outskirts requires an investment of Rs 81,000 crore and acquisition of 2,500 acres of land. Spanning 287km, the double-line circular network will connect Nidavanda, Doddaballapur, Devanahalli, Malur, Heelalige, Solur and other peripheral towns. It aims to decongest rail traffic in the city's core areas and cater to residents on the outskirts and nearby districts by enabling more suburban rail services. On Saturday, minister of state for railways V Somanna held a meeting with MPs from Bengaluru and adjoining districts to discuss the project. The railway board sanctioned a final location survey (FLS), which is currently being conducted in phases. The minister said the central govt will fund the entire project. "This is a long-term initiative meant to benefit Bengaluru over the next 50 years," he said. The actual land requirement and cost will be finalised after the detailed project report (DPR) is ready. Completing the FLS is expected to take several months. Camelaram, Panathur works Bangalore Central MP PC Mohan submitted a requisition to Somanna, urging South Western Railway (SWR) to coordinate with BBMP to expedite pending RoB and RuB works at Carmelaram and Panathur. He noted that only 35% of the Carmelaram RoB is complete, causing prolonged closure of Carmelaram-Gunjur Road and affecting commuters. Similarly, the Panathur RuB is stalled due to BBMP's delay in acquiring land needed for the approach road and drainage. Need superfast train to Mumbai: Mohan Mohan called for a superfast train between Bengaluru and Mumbai, pointing out that the current Udyan Express takes over 20 hours. Despite repeated public requests, the railway board hasn't approved a faster service, he said. On the redevelopment of KSR Bengaluru City Railway Station, the MP said the proposal is pending with the railway board. He urged Somanna to initiate a feasibility study for a rapid rail transit system (RRTS) on key corridors such as Bengaluru-Tumakuru, Bengaluru-Ramanagara, Bengaluru-Mandya-Mysuru and Bengaluru-Kolar.
