The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, Government of India, has signed a Memorandum of Understanding (MoU) with Kotak Mahindra Bank Ltd. to strengthen both financial and non-financial support for startups across India.

This strategic collaboration aims to create a comprehensive framework that enables startups to access customised banking solutions, funding opportunities, digital and payment infrastructure, and capacity-building programmes. The initiative reaffirms DPIIT’s commitment to fostering an innovation-led economy and propelling India’s transformation into a global startup hub.

Under the MoU, Kotak Mahindra Bank will offer an exclusive suite of services for DPIIT-recognised startups, including zero-balance current accounts, working capital and term loans, API-based banking platforms, digital payment solutions, and specialised startup cards. In addition, the Bank will facilitate mentorship, investment advisory, incubation support, and networking platforms, helping startups scale from ideation to commercial success.

Shri Sanjiv, Joint Secretary, DPIIT, said, “This partnership reflects DPIIT’s efforts to build a vibrant and inclusive innovation ecosystem that empowers startups at every stage of their journey. By integrating policy, industry, and finance, we aim to strengthen the bridge between entrepreneurial ambition and sustainable impact, ensuring India’s innovators have the right tools to grow globally.”

Shri Raghavendra Singh, President, Kotak Mahindra Bank Ltd., noted that the collaboration would enhance engagement with the startup community through tailored financial solutions, mentorship initiatives, and access to business networks to support effective growth and expansion.

The partnership will establish a dynamic support framework encompassing banking services, advisory, technology enablement, funding access, and market linkages. By combining Kotak’s financial expertise with DPIIT’s policy leadership, the initiative aims to accelerate India’s journey towards a self-reliant, innovation-driven economy.