• IndusInd Bank collaborates with AIC STPINEXT.
• Offers tailored banking solutions for startups and MSMEs.
• Specialized Current Account with no quarterly average balance.

IndusInd Bank made the announcement on Monday that it has formed a tie-up with AIC STPINEXT to extend significant financial solutions and structural support to early-stage startups as well as Micro, Small, and Medium Enterprises (MSMEs). AIC STPINEXT is a special purpose vehicle under the Software Technology Parks of India (STPI) under the auspices of the Ministry of Electronics and Information Technology (MeitY).

As part of this initiative, IndusInd Bank seeks to provide a holistic set of tailored banking solutions crafted in partnership with early-stage startups that are associated with STPI/STPINEXT. A special Current Account product removing the need for the quarterly average balance will be among the distinctive offerings of IndusInd Bank.

In addition to banking solutions, IndusInd Bank will provide valuable support services, including expert guidance and workshops focused on financial management. These workshops will cover essential topics such as banking fundamentals, equity infusion strategies, Employee Stock Ownership Plans (ESOPs), and segment-based funding options.

To improve operational effectiveness for the startups, the bank will also provide payroll and attendance management services at no additional cost, easing the financial pain for start-up companies even further.

At the last trading session, IndusInd Bank shares were worth Rs 782.70, marginally up by 0.05 percent over the previous close on the Bombay Stock Exchange (BSE). This tie-up highlights IndusInd Bank's interest in developing innovation and growth in the startup space and supporting the crucial MSME segment.