TestCloud
Prep • Practice • Perform
Log In

IndusInd Bank Inks MoU with AIC STPINEXT to Empower Startups and MSMEs.

Banking & Finance | Dated: 25 May 2025

In May 2025, Mumbai-based IndusInd Bank Limited entered into a Memorandum of Understanding (MoU) with the Atal Incubation Centre (AIC) Software Technology Parks of India Next (STPINEXT), a Special Purpose Vehicle (SPV) under the Bengaluru-based Software Technology Parks of India (STPI), governed by the Ministry of Electronics and Information Technology (MeitY).

🎯 Key Highlights:

  • - This partnership aims to provide crucial financial solutions and structural support to early-stage startups and Micro, Small and Medium Enterprises (MSMEs) nationwide.
  • - The collaboration focuses on fostering innovation and entrepreneurship by delivering tailored banking services, financial literacy initiatives, and operational tools specifically designed for startups and MSMEs incubated by AIC STPINEXT.

💡 Other Important Facts:

  • (i) IndusInd Bank will offer a Current Account with no quarterly average balance requirement, simplifying banking operations for startups.
  • (ii) The bank will conduct workshops and provide expert guidance on essential topics such as banking fundamentals, equity infusion, Employee Stock Ownership Plans (ESOPs), and segment-specific funding models.
  • (iii) Startups will benefit from free payroll and attendance management services provided by the bank, enhancing day-to-day business efficiency.

📚 Test Your Knowledge:

Which bank signed an MoU with AIC STPINEXT in May 2025 to support startups and MSMEs?

Correct Answer: IndusInd Bank

🚀 Quick Recap: