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IndusInd Bank and DPIIT MoU for Startup Finance Support

27 May 20251 min read
BANKING & FINANCEIndusInd Bank andDPIIT MoU forStartup FinanceSupport27 May 2025safalsetu.com

Why in the news

IndusInd Bank and DPIIT agreed to ease start-ups’ access to finance and policy support.

Key facts

  • Tailored products: cash management, working capital and credit for early- and growth-stage start-ups.
  • Under the Credit Guarantee Scheme for Startups (CGSS), loans need no collateral and carry ₹20 crore maximum guarantee cover.
  • 27 Champion Sectors get reduced guarantee fees.
  • Objective: make India a global entrepreneurship hub and nurture future unicorns.

About IndusInd Bank

  • 30+ years old; about 42 million customers (Dec 2024).
  • 3,063 outlets, 2,993 ATMs, 1.6 lakh villages; offices in London, Dubai, Abu Dhabi.
  • Digital platform: INDIE (Digital 2.0 strategy).

Exam angle

  • Partner: DPIIT; CGSS cover ₹20 crore.

Test yourself

1. IndusInd Bank signed an MoU with which department to support start-ups under Startup India?

The MoU is with the Department for Promotion of Industry and Internal Trade.

2. What is the maximum guarantee cover for collateral-free loans under CGSS in the IndusInd-DPIIT partnership?

Collateral-free loans have guarantee cover up to ₹20 crore.

3. For how many Champion Sectors does CGSS offer concessional guarantee fees, as per the IndusInd-DPIIT notes?

Concessional fees apply to 27 Champion Sectors.

This topic is part of Daily Current Affairs 24 May 2025 (10 topics).

All topics of the dayDay quizMay 2025

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