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Indian Bank signed MoU with Society for Innovation and Development

Published on February 20, 2021
Current Context: Indian Bank has signed an MoU with the Society for Innovation and Development (SID), which is an initiative of IISc.
Indian Bank signed MoU with Society for Innovation and Development
  • They have signed MoU to grant credit facilities to startups and MSMEs.
  • The MoU was signed under Indian Bank’s initiative called ‘Ind SpringBoard for financing Startups’.
  • This partnership will financially empower startups and MSMEs.
  • The Startups and MSMEs will also be benefited from incubation facilities that are offered by SID.
  • SID will shortlist the startups and MSMEs by analyzing their present and past performances and these shortlisted ones will be referred to Indian Bank.
  • Indian Bank will provide loans up to Rs 50 crores to the shortlisted startups and MSMEs.
  • Static Part: 
    • HQ of Indian Bank: Chennai, TN
    • Tagline of Indian Bank: Your Own Bank

Question: 

Q.1 Which of the following bank signed MoU with the Society for Innovation and Development (SID), which is an initiative of IISc, to grant credit facility support to startups and MSMEs?
a. Union Bank of India
b. Canara Bank
c. Indian Bank
d. Punjab National Bank
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