DPIIT signs MoU with HDFC Bank to strengthen startup ecosystem and foster innovation

Current Context: On December 17, 2024, the Department for Promotion of Industry and Internal Trade (DPIIT) signed a Memorandum of Understanding (MoU) with HDFC Bank at the Constitution Club of India in New Delhi.

• Purpose:
• To provide knowledge sharing and mentorship to startups.
• To offer customized financial products and services tailored to the needs of startups.
• To create a robust ecosystem that encourages innovation and growth.
• Benefits
• Enhanced Support: Startups will receive guidance and mentorship from experts at DPIIT and HDFC Bank, helping them navigate challenges and scale their businesses.
• Financial Products: HDFC Bank will offer financial products specifically designed for startups, addressing their unique financial needs.
• Innovation and Growth: The collaboration aims to foster a culture of innovation, encouraging startups to develop new ideas and solutions.

Question:

1 Which organization partnered with the Department for Promotion of Industry and Internal Trade (DPIIT) to strengthen the startup ecosystem?

• A) HDFC Bank
• B) Axis Bank
• C) ICICI Bank
• D) State Bank of India

Answer: A) DPIIT partnered with HDFC Bank to strengthen the startup ecosystem and foster innovation.