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Informist, Thursday, Oct. 23, 2025

NEW DELHI – The Department for Promotion of Industry and Internal Trade under the commerce ministry signed a Memorandum of Understanding with Kotak Mahindra Bank Thursday to provide financial support to startups across India. Under the agreement, the bank will extend a range of dedicated offerings for DPIIT-recognised startups, including zero-balance current accounts, working capital and term loans, digital payment solutions, and specialised startup cards.

"The Bank will also facilitate access to mentorship, investment advisory, incubation support, and networking platforms, helping startups progress from ideation to scale," the ministry said in a release. The collaboration aims to create a comprehensive framework enabling startups to access customised banking solutions, credit and funding opportunities, digital and payment infrastructure, and capacity-building programmes. 

The department also signed an agreement with Delhi-based management consulting firm Primus Partners Pvt. Ltd. to enhance support for early-stage and growth-stage product startups through structured capacity-building interventions, expert mentorship, market access initiatives, policy awareness drives, and facilitation of technology integration, the ministry said. On Thursday, shares of Kotak Mahindra Bank ended 1.3% higher at INR 2,225.60 on the National Stock Exchange.  End

Reported by Krity Ambey

Edited by Subhojit Sarkar

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