India’s Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, has entered into a memorandum of understanding with Kotak Mahindra Bank Ltd. to strengthen financial and non-financial support for startups across the country.
According to a press release by India’s Press Information Bureau, the partnership aims to streamline funding access, digital infrastructure, and advisory services to foster entrepreneurship. Under the agreement, India’s Kotak Mahindra Bank will offer DPIIT-recognised startups tailored financial products such as zero-balance current accounts, working capital and term loans, digital payment services, and API-based banking platforms.
It will also provide mentorship, investment guidance, incubation assistance, and access to business networks to help startups evolve from concept to scale. India’s Ministry of Commerce and Industry said the initiative builds on the government’s efforts to strengthen the country’s startup ecosystem by merging policy, finance, and innovation.
DPIIT officials noted that the collaboration underscores India’s push towards an innovation-led economy while positioning the country as a global hub for new ventures. Kotak Mahindra Bank stated that the tie-up would deepen engagement with entrepreneurs through customised financial solutions and structured mentorship programmes, enabling founders to expand sustainably.
The agreement will establish a holistic framework for startups to gain access to credit, technology tools, and market linkages. By combining Kotak’s financial expertise with India’s policy initiatives, the partnership is expected to accelerate the nation’s transition towards a more self-reliant, innovation-driven economy.
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