The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, Government of India, signed a Memorandum of Understanding (MoU) with Kotak Mahindra Bank Ltd. to enhance financial and non-financial support for startups across India.

This strategic collaboration aims to create a comprehensive framework enabling startups to access customized banking solutions, credit and funding opportunities, digital and payment infrastructure, and capacity-building programs.

The partnership reinforces DPIIT’s commitment to nurturing an innovation-led economy and accelerating India’s journey toward becoming a global startup hub.

Under the MoU, Kotak Mahindra Bank will extend a range of dedicated offerings for DPIIT-recognised startups, including zero-balance current accounts, working capital and term loans, API-based banking platforms, digital payment solutions, and specialized startup cards.

The Bank will also facilitate access to mentorship, investment advisory, incubation support, and networking platforms, helping startups progress from ideation to scale.

Speaking on the occasion, Shri Sanjiv, Joint Secretary, DPIIT, said: “This partnership reflects DPIIT’s ongoing efforts to build a vibrant and inclusive innovation ecosystem that empowers startups at every stage of their journey.