 "IndusInd Bank signs pact with AIC STPINEXT to support startups, MSMEs")
IndusInd Bank on Monday said it has signed a pact with AIC STPINEXT to provide early-stage startups and MSMEs essential financial solutions and structural support.
AIC STPINEXT is a special purpose vehicle of Software Technology Parks of India (STPI) under the Ministry of Electronics and Information Technology (MeitY).
"Under this collaboration, IndusInd Bank will deliver a range of tailored banking solutions to support early-stage startups associated with STPI/STPINEXT.
"The Bank will offer a specialized Current Account product with no quarterly average balance requirement, making it easier for startups to manage their finances," IndusInd Bank said in a regulatory filing.
Additionally, the Bank will offer support such as expert guidance, and conduct workshops around financial management including banking basics, equity infusion, Employee Stock Ownership Plan (ESOPs), segment-based funding etc.
To further support operational efficiency, the bank will offer payroll and attendance management services to early-stage startups at no cost.
Shares of IndusInd Bank were trading at Rs 782.70, up 0.05 per cent over previous close on BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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