In December 2024, the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry (MoC&I) entered into a Memorandum of Understanding (MoU) with Mumbai(Maharashtra) based HDFC Bank Limited, India’s largest private sector bank by assets, to provide startups with world-class banking and financial services.
- The partnership aims to strengthen the startup ecosystem by providing mentorship, knowledge-sharing, and capacity-building programs to encourage innovation and growth.
Key people: The signing ceremony was attended by key figures including Sanjiv Singh, Joint Secretary of Startup India, Dr. Sumeet Kumar Jarangal, Director of Startup India, Sunali Rohra, Head of Government & Institutional Business, Start-ups & Gig Banking at HDFC Bank, among others.
Benefits for Startups:
i.Startups will receive personalized banking and financial products to meet their needs, like working capital, credit, and cash flow management.
ii.They will also benefit from HDFC Bank’s vast network and resources, which will support their growth, investment attraction, and market presence expansion.
iii.The partnership addresses key challenges like funding and financial management while creating an environment that promotes innovation and sustainable growth for startups.
DPIIT and Tally Solutions Partner to Mentor Manufacturing Startups
The DPIIT also signed an MoU with Tally Solutions Private Limited, a software company based in Bengaluru, Karnataka, to digitally empower startups in the manufacturing sector.
Key people: The signing ceremony was attended by Sanjiv Singh, Joint Secretary of Startup India, Dr. Sumeet Kumar Jarangal, Director of Startup India, and Tejas Goenka, Managing Director (MD) of Tally Solutions Private Limited.
i.This partnership aims to introduce a series of workshops with modules designed to help startups tackle key challenges in financial management, compliance, marketing, digitization, and investment readiness.
ii.Tally Solutions will provide practical training, case studies, and expert sessions to help startups improve operations, adopt scalable practices, and prepare for long-term growth.
Key features:
i.Free one-year rental licenses for Tally Prime software are available for participants.
ii.Modules focused on key business areas, such as accounting, tax compliance, marketing, digitization, and investment readiness.
iii.Networking Opportunities with industry mentors and peers.
iv.Post-Workshop Support to ensure continuous learning and improvements
Recent Related News:
In November 2024, the DPIIT has amended the Bicycle Retro-Reflective Devices (Quality Control) Order, 2020 notified on 9th July 2020 and came into effect on 1st July 2023.
About the Department for Promotion of Industry and Internal Trade (DPIIT)
The DPIIT is a central government department under the Ministry of Commerce and Industry (MoC&I). It is set to launch Bharat Startup Knowledge Access Registry (BHASKAR) initiative, under the Startup India program to strengthen India’s startup ecosystem.
Secretary – Amardeep Sing Bhatia
Headquarters – New Delhi
Established – 1995
