IndusInd Bank today announced that it has signed a Memorandum of Understanding (MoU) with AIC STPINEXT, a special purpose vehicle of Software Technology Parks of India (STPI) under the Ministry of Electronics and Information Technology (MeitY). This partnership is designed to provide early-stage start-ups and MSMEs with essential financial solutions, mentorship, and structural support, leveraging the combined strengths of both organizations to nurture innovation and sustainable growth.
Under this collaboration, IndusInd Bank will deliver a range of tailored banking solutions to support early-stage start-ups associated with STPI/STPINEXT, empowering them at every stage of their journey. The Bank will offer a specialized Current Account product with no quarterly average balance requirement, making it easier for start-ups to manage their finances.
Additionally, the Bank will offer support such as expert guidance, and conduct workshops around financial management including banking basics, equity infusion, ESOPs, segment-based funding etc. To further support operational efficiency, the Bank will offer payroll and attendance management services to early-stage start-ups at no cost.