The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, Government of India, signed a Memorandum of Understanding (MoU) with Kotak Mahindra Bank Limited to enhance financial and non-financial support for startups across India. The strategic collaboration between DPIIT and Kotak Mahindra Bank aims to create a comprehensive framework to enable startups to access customised banking solutions, credit and financing opportunities, digital and payment infrastructure and capacity building programmes.
 |
| DPIIT signs MoU with Kotak Mahindra Bank to enhance financial support for Startups |
DPIIT - Kotak Mahindra Bank signs MoU to enhance financial support for Startups
The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry Government of India and Kotak Mahindra Bank Limited have signed a Memorandum of Understanding (MoU) to enhance financial and non-financial support for startups across India.
Read Also: DPIIT signs MoU with ICICI Bank to support startups across India
Under the MoU, Kotak Mahindra Bank will extend a range of dedicated offerings for DPIIT-recognised startups, including zero-balance current accounts, working capital and term loans, API-based banking platforms, digital payment solutions, and specialized startup cards.
The Kotak Mahindra Bank will also facilitate access to mentorship, investment advisory, incubation support, and networking platforms, helping startups progress from ideation to scale.
The DPIIT and Kotak Mahindra Bank initiative will offer a dynamic support system encompassing banking services, advisory, technology enablement, funding access, and market linkages. It is designed to empower startups at every stage of their journey—from early ideation to market expansion.
Read Also: DPIIT signs MoU with Pfizer to strengthen India’s healthcare innovation ecosystem
By combining Kotak’s financial expertise and DPIIT’s policy leadership, this partnership will accelerate India’s transition toward a self-reliant, innovation-driven economy.
Apart from this, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has signed a Memorandum of Understanding (MoU) with Primus Partners Pvt Ltd. to enhance collaboration towards strengthening India’s startup and innovation ecosystem.
Aims of DPIIT - Kotak Mahindra Bank MoU
The strategic collaboration between DPIIT and Kotak Mahindra Bank aims to create a comprehensive framework to enable startups to access customised banking solutions, credit and financing opportunities, digital and payment infrastructure and capacity building programmes.
The partnership reinforces DPIIT’s commitment to nurturing an innovation-led economy and accelerating India’s journey toward becoming a global startup hub.
Read Also: DPIIT signs MoU with Ather Energy to boost EV manufacturing and clean mobility ecosystem
About DPIIT
The Department for Promotion of Industry and Internal Trade (DPIIT) was founded in 1995 and later expanded in 2000 through the merger with the Department of Industrial Development.
Read Also: Govt nominates Anuradha Thakur to RBI Central Board
It is working under the Ministry of Commerce and Industry, Government of India. This department is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives.
Static Current Affairs related to DPIIT for upcoming exams
- Full form of DPIIT: Department for Promotion of Industry and Internal Trade
- Minister responsible: Piyush Goyal, Minister of Commerce and Industry
- Secretary: Amardeep Singh Bhatia
Static Current Affairs related to Kotak Mahindra Bank for upcoming exams
- Founded: 1985
- Founders: Uday Kotak
- Headquarters: Mumbai, Maharashtra
- Executive director: Uday Kotak
- MD & CEO: Ashok Vaswani
- Number of employees: 116,000+ (March 2024)
0 Comments