The Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry has signed a Memorandum of Understanding (MoU) with Kotak Mahindra Bank Ltd. to enhance financial and non-financial support for startups across India. The collaboration aims to create a cohesive system for startups to access tailored banking services, credit, funding alternatives, digital infrastructure, and development programs. DPIIT seeks to strengthen India’s innovation-led economy via this collaboration and elevate its growth as a global startup hub. Under the MoU, Kotak Mahindra Bank will offer multiple benefits for DPIIT-recognised startups, including zero-balance current accounts, working capital and term loans, digital payment options, API-driven banking, and specialized startup cards. The Bank will also provide mentorship, investment support, and incubation help to assist startups in advancing from idea to growth. Mr. Sanjiv, Joint Secretary of DPIIT, remarked that the partnership exemplifies ongoing efforts to foster a vibrant innovation ecosystem. At the same time, Mr. Raghavendra Singh, President of Kotak Mahindra Bank Ltd., emphasized its significance in empowering entrepreneurs through financial support, mentorship, and networking. DPIIT’s policy direction paired with Kotak’s financial expertise aims to enhance India’s transition to a self-reliant, innovation-driven economy.