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Indian Bank signed MoU with IIT Guwahati

Published on July 24, 2021
Current Context: The Indian Bank signed MoU with IIT Guwahati Technology Incubation Centre (TIC).
Indian Bank signed MoU with IIT Guwahati
  • The MoU was signed to provide finance to the startups.
  • The support will be granted under Indian Bank’s loan product called ‘IND Spring Board’.
  • The MoU is the step forward by the Indian Bank to fulfil its commitment towards the economical upliftment of the entrepreneurs in Assam and NE India.
  • The MoU agreement was signed between KS Sudhakara Rao, General Manager (MSME), Indian Bank and Prof. R. Ganesh Narayanan IIT Guwahati Technology Incubation Centre (TIC).
  • The ‘IND Spring Board’ supports startups through financial support from the bank. Under this, the bank offers financial support of upto Rs 50 crore as working capital and fund-based term loan. This financial support helps startups acquire fixed assets for their businesses.
  • Static Part: 
    • HQ of Indian Bank: Chennai, TN
    • Tagline of Indian Bank: Your Own Bank
    • MD and CEO of Indian Bank: Padmaja Chunduru

Question: 

Q.1 Which bank signed MoU with IIT Guwahati Technology Incubation Centre (TIC) to provide finance to the Startups?
a. Bank of Baroda
b. Indian Bank
c. Canara Bank
d. Union Bank of India
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