HDFC Bank & AIM Empower Social Sector Start-Ups with Rs 19.6 Crore Grants

Current Context: The Parivartan Start-up Grants programme for FY2024 was announced by HDFC Bank in partnership with Atal Innovation Mission on May 8, 2024.

• A total of Rs 19.6 crore in grants will be distributed among 41 incubators and accelerators.
• These grants will support 170 start-ups working in areas such as:
• Climate Innovation
• Financial Inclusion
• Agriculture and Sustainable Rural Economy
• Accessible and Affordable Healthcare
• Education and Livelihood Enhancement
• Gender Diversity and Inclusion.
• The start-ups are from various states across India, with the majority being from Maharashtra.
• Over half of the start-ups are from over 60 tier II/III cities.
• The grants were awarded to leading and emerging incubators such as HTIC at IIT Madras, Awadh at IIT Ropar, T-Hub (Hyderabad), FITT - IIT Delhi, RISE Foundation at IISER (Kolkata), VJTI (Mumbai), Forge Forward (Coimbatore), NTIBIF at NIFTEM (Kindli).
• Nusrat Pathan, Head CSR, HDFC Bank, and Arup Rakshit, Group Head, Treasury, HDFC Bank, expressed their commitment to fostering social innovation and driving positive change in communities through this initiative.

Question:

Q.1 What is the total amount of grants to be distributed under the Parivartan Start-up Grants programme for FY2024?
a. Rs 10 crore
b. Rs 19.6 crore
c. Rs 25 crore
d. Rs 30 crore