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.

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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.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.