IndusInd Bank has entered into a Memorandum of Understanding (MoU) with AIC STPINEXT, an initiative of the Software Technology Parks of India (STPI) under the Ministry of Electronics and Information Technology (MeitY). This collaboration aims to support early-stage start-ups and micro, small, and medium enterprises (MSMEs) by providing them with essential financial services and developmental support.
As part of the collaboration, IndusInd Bank will offer a customized current account designed specifically for start-ups. This account will not require a minimum quarterly average balance, thereby reducing financial burdens for new businesses. The bank will also extend value-added services including payroll and attendance management tools, offered at no cost, to enhance operational efficiency for participating start-ups.
Beyond banking products, the collaboration will include guidance and educational workshops on topics such as financial planning, funding strategies, equity management, and employee stock options (ESOPs). These initiatives are intended to equip entrepreneurs with the financial literacy and tools needed to build and scale sustainable businesses.
This MoU marks a joint effort to strengthen India’s start-up ecosystem by connecting innovative ventures with financial infrastructure and mentorship. Through this association, both IndusInd Bank and AIC STPINEXT aim to foster a supportive environment where innovation can develop and contribute to broader economic growth.
