IndusInd Bank on Monday announced that it has entered into an agreement with AIC STPINEXT to offer essential financial solutions and structural support to early-stage startups and MSMEs.
AIC STPINEXT operates as a special purpose vehicle of the Software Technology Parks of India (STPI), functioning 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 extend support by providing expert guidance and organizing workshops focused on financial management, covering topics such as banking fundamentals, equity infusion, Employee Stock Ownership Plans (ESOPs), segment-based funding, and more.
To further enhance operational efficiency, in addition, the Bank will provide early-stage startups with complimentary payroll and attendance management services at no extra cost.
Shares of IndusInd Bank were trading at ₹782.70 on the BSE, reflecting a marginal gain of 0.05% from the previous close.
IndusInd Bank’s strategic partnership with AIC STPINEXT marks a significant step towards empowering early-stage startups and MSMEs in India. Moreover, by offering tailored financial products, expert-led workshops, and free operational tools, the bank aims to foster innovation and, ultimately, drive sustainable growth in the startup ecosystem.
