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DBS Bank India Announced USD 250 Million Lending Support for Startups & New Economy Co.

Published on March 23, 2024
Current Context: DBS Bank India has announced a lending commitment of USD 250 million for new-age startups.
DBS Bank India Announced USD 250 Million Lending Support for Startups & New Economy Companies
  • This initiative is part of the bank’s focus on fostering innovation and entrepreneurship within the country’s thriving startup ecosystem.
  • The Indian startup sector, a foundational pillar of the country’s development goals, has seen significant expansion over the years with over 90,000 startups and more than 100 unicorns as of 2024.
  • Despite their growing resilience, access to capital for these companies in the current dynamic environment presents an ongoing challenge.
  • Recognising the disruptive power of the startup segment, particularly those harnessing emerging technologies, DBS Bank India has earmarked lending support of USD 250 million, focusing on enterprises that are set to redefine industry standards with innovative solutions.
  • Rajat Verma, Managing Director & Head, Institutional Banking Group, DBS Bank India said, “We are inspired by the ability of new-age entrepreneurs to harness innovation to solve real-world challenges and hope to play a constructive role in their growth.

Question:

Q.1 What is the lending commitment of DBS Bank India for new-age startups?
a. USD 100 million
b. USD 250 million
c. USD 500 million
d. USD 750 million
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