DPIIT Partners with Kotak Bank & Primus for Startups

New Delhi, Oct 23 (PTI) The Department for Promotion of Industry and Internal Trade (DPIIT) on Thursday said it has inked separate pacts with Kotak Mahindra Bank, and Primus Partners to support startups.

The Memorandum of Understanding (MoU) with Kotak Mahindra Bank aims to enhance financial and non-financial support for startups across the country, it said in a statement.

"This strategic collaboration aims to create a comprehensive framework enabling startups to access customised banking solutions, credit and funding opportunities, digital and payment infrastructure, and capacity-building programs," it said.

Under the MoU, Kotak Mahindra Bank will extend a range of dedicated offerings 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.

The bank will also facilitate access to mentorship, investment advisory, incubation support, and networking platforms, helping startups progress from ideation to scale, it said.

The MoU with Primus Partners seeks to enhance support for early-stage and growth-stage product startups through structured capacity-building interventions, expert mentorship, market access initiatives, policy awareness drives, and facilitation of technology integration.

In a separate statement, the department said as of October 22, more than 60 per cent of public grievances have been successfully disposed of.