Categories: Banking

Indian Bank, IIT-Madras in pact for start-up funding

Indian Bank has introduced an initiative for funding start-ups, ‘IND Spring Board’, in collaboration with the IIT-Madras Incubation Cell (IITMIC). The Chennai-headquartered bank seeks to bridge the gap in funding for start-ups through this collaboration with IITMIC.

WARRIOR 4.0 | Banking Awareness Batch for SBI, RRB, RBI and IBPS Exams | Bilingual | Live Class

Under the deal, IITMIC will refer start-ups with proven technology and established cash flows to the bank and also extend advisory to the bank on the business model. The bank will extend loans of up to 50 crores to these start-ups for their working capital requirements or purchase of machinery, equipment.

Important takeaways for all competitive exams:

Indian Bank Headquarters: Chennai, Tamil Nadu.
Indian Bank CEO: Padmaja Chunduru.
Indian Bank Tagline: Your Own Bank, Banking That’s Twice As Good.

Find More Banking News Here

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.