The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, has signed a Memorandum of Understanding (MoU) with Kotak Mahindra Bank Ltd. to strengthen financial and non-financial support for startups across the country.
The partnership aims to build a robust ecosystem for entrepreneurs by providing access to customised banking solutions, funding opportunities, and capacity-building initiatives. Through this collaboration, DPIIT and Kotak Mahindra Bank will jointly promote innovation, financial inclusion, and ease of doing business for India’s startups.
Under the MoU, Kotak Mahindra Bank will offer a suite of dedicated services to DPIIT-recognised startups, including zero-balance current accounts, working capital loans, API-based digital banking, payment solutions, and specialised startup cards. Additionally, the bank will facilitate mentorship, investment advisory, incubation support, and networking opportunities to help startups scale from ideation to growth.
Speaking on the occasion, Sanjiv, Joint Secretary, DPIIT, emphasised that the collaboration reinforces the government’s commitment to building an inclusive innovation ecosystem by integrating policy, industry, and finance.
Raghavendra Singh, President, Kotak Mahindra Bank, added that the initiative will deepen engagement with the startup community through tailored financial products and growth-enabling mentorship programs.
The initiative seeks to empower startups through a holistic framework combining finance, technology, and advisory support, accelerating India’s journey toward becoming a self-reliant, innovation-driven economy.
Send news announcements/press releases to:
info@b2bmarketmedia.com
