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Indian Bank signed MoU with IIT Bombay

Published on August 03, 2021
Current Context: The Indian Bank entered into MoU with the Society for Innovation and Entrepreneurship (SINE) of IIT Bombay.
Indian Bank signed MoU with IIT Bombay
  • The SINE is an initiative of IIT Bombay. It supports the MSME through R&D work, technical work and financial support.
  • The MoU was signed to support the startups and small businesses with credit facilities.
  • Under this MoU, the SINE initiative of IIT Bombay will identify the start-ups and MSMEs by analyzing their credentials and past experience.
  • Then the selected startups and MSMEs will be directed to the Indian Bank to avail financial support benefits for their startups.
  • This MoU is the part of Indian Bank’s scheme called ‘Ind Spring Board’. The bank will offer loans of up to Rs 50 crore to these startups so that they can meet their capital requirements or purchase machinery, equipment etc.
  • Static Part: 
    • HQ of Indian Bank: Chennai
    • Tagline of Indian Bank: Your Own Bank

Question: 

Q.1 Indian Bank signed MoU with the Society for Innovation and Entrepreneurship (SINE) of _______ to support the startups and small businesses with exclusive credit facilities?
a. IIM Jammu
b. IIT Bombay
c. IIM Ahmedabad
d. IIT Gandhinagar
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