Current Affairs PDF

Indian Bank signs MoU with IIM Bangalore to fund Startups

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

IIM Bangalore and Indian Bank ink MoU to provide debt capital for startupsIndian Bank has signed a Memorandum of Understanding (MoU) with NSRCEL   (N S Raghavan Centre for Entrepreneurial Learning), the entrepreneurship Centre of Excellence at the Indian Institute of Management Bangalore (IIM-B) to provide funding for identified startups under Indian Bank’s ‘Ind Spring Board’ Scheme.

  • The MoU was signed between Padmaja Chunduru, MD & CEO, Indian Bank, Professor Rishikesha T Krishnan, Director Of IIM Bangalore and K S Sudhakar Rao, General Manager (MSME), Indian Bank.
  • The funding will help start-ups in meeting their working capital requirements for growth.

‘Ind Spring Board’ scheme

In October 2020,  Indian Bank launched ‘IND Spring Board’ in collaboration  with Indian Institute of Technology Madras Incubation Cell (IITMIC) to provide a credit facility of INR 50 crore to Start-Ups for their working capital requirements.

MSME Prerana programme

In October 2020, Indian Bank launched the MSME Prerana programme to empower MSME entrepreneurs through skill development and capacity building workshops in local languages.

  • At first, MSME prerana was implemented in Tamil language.

Recent Related News

On August 02nd 2021, Indian Bank signed a MoU with IIT Bombay’s Society for Innovation and Entrepreneurship (SINE) to provide credit facilities to start-ups and small businesses.

About Indian Bank

Established in 1907
Headquarters – Chennai
MD & CEO – Padmaja Chumduru
Tagline – Your Own Bank

About N S Raghavan Centre for Entrepreneurial Learning (NSRCEL)

Chairperson – Venkatesh Panchapagesan
Headquarters – Bengaluru, Karnataka