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Informist, Monday, Aug. 11, 2025

NEW DELHI - IndusInd Bank Monday launched a banking programme for early-stage startups in India, for banking facilities, credit and other services. The programme is applicable to startups which have been in existence for less than 10 years. 

"Under this dedicated banking programme, the bank will provide 360-degree financial support to early-stage ventures, like free payment gateway, PoS (point of sale) Installation, and a 3-year waiver on non-maintenance charges among others," the bank said in a release.

India has over 175,000 startups registered with the commerce ministry's Department for Promotion of Industry and Internal Trade, the third-largest ecosystem in the world, the bank said. IndusInd Bank will also offer the use of premium lounges in eight cities to startups to host meetings, along with personal banking privileges for founders.

With a net profit of INR 6.84 billion, the bank returned to profitability in Apr-Jun after a rare quarterly loss of INR 22.36 billion in the March quarter, following discrepancies in the bank's derivatives portfolio accounting. The lender's net profit declined by 68% year-on-year. At 1437 IST, the bank's shares were up 0.5% at INR 786.30 on the National Stock Exchange.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Aaryan Khanna

Edited by Vandana Hingorani

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