DBS Bank India announced a USD 250 million loan commitment for new-age entrepreneurs. The project is part of the bank’s efforts to promote innovation and entrepreneurship in the country’s vibrant startup environment.
The Indian start-up sector, a key component of the country’s development aspirations, has grown significantly, with over 90,000 start-ups and over 100 unicorns as of 2024. Despite their growing resilience, many organisations continue to face challenges in accessing finance in today’s unpredictable economy. Recognising the disruptive power of the startup category, particularly those leveraging emerging technologies, DBS Bank India has set aside USD 250 million in financing support, with a focus on firms poised to alter industry standards through creative solutions.
Rajat Verma, Managing Director & Head, Institutional Banking Group, DBS Bank India said, “We are inspired by the ability of new age entrepreneurs to harness innovation to solve real world challenges and hope to play a constructive role in their growth. We believe that our lending commitment of USD 250 million for startups comes at an opportune time as the sector has been demonstrating improved operating metrics and a sharper focus on profitability in recent years. DBS Bank India intends to leverage our advanced digital expertise, deep Asian connectivity, and ecosystem partnerships to offer holistic support, even going beyond banking to empower these innovators to streamline operations, manage logistics, and gain access to larger business networks. As a different kind of bank, our overarching objective is to become a trusted partner for startups across sectors and support them throughout the business lifecycle.”
The bank’s comprehensive risk assessment framework, which blends traditional criteria with cutting-edge analytical technologies, ensures a balanced approach to lending. The thorough screening process guarantees that DBS Bank India can provide personalised banking solutions that match the vibrancy of the industry innovators it collaborates with. Given startups’ specific challenges in the digital economy, DBS goes above and beyond to provide a slew of exclusive perks handpicked from various partners, allowing these businesses to boost agility and unlock growth. The bank celebrates modern-day founders through platforms such as DBS Businessclass FoundED, which has engaged with over 1000 companies and 50 incubators in India to date
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
