DBS Bank India Announces Lending Support of Rs 2000 Cr For New-age Startups

An announcement has been made by DBS Bank India on a $250 million lending promise for start-ups and 'new economy' companies. The initiative is part of the bank's efforts to support entrepreneurship and innovation within the booming startup industry in the nation.

With this initiative the bank has introduced a future-focused funding program to fuel growth aspirations of tech-focused enterprises.

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. We believe that our lending commitment of USD 250 million for startups comes at an opportune time as the sector has been demonstrating improved operating metrics and a sharper focus on profitability in recent years.

DBS Bank India intends to leverage our advanced digital expertise, deep Asian connectivity, and ecosystem partnerships to offer holistic support, even going beyond banking to empower these innovators to streamline operations, manage logistics and gain access to larger business networks. As a different kind of bank, our overarching objective is to become a trusted partner for startups across sectors and support them throughout the business lifecycle."

With over 90,000 start-ups and more than 100 unicorns as of 2024, the Indian start-up industry has experienced enormous growth over the years and is now a fundamental pillar of the nation's development goals. Recognizing the disruptive potential of the startup space, especially those utilizing cutting-edge technology, DBS Bank India provided USD 250 million in lending support, with a focus on enterprises that are poised to revolutionize industry norms through innovative approaches.

Owing to specific obstacles faced by startups in the digital economy, DBS goes above and beyond by providing a plethora of special perks that are hand-picked from various partners that will help these enterprises enhance their agility and spur development. The bank honours modern entrepreneurs with initiatives like DBS Businessclass FoundED, having worked with over 1000 startups and 50 incubators in India to date.

With operations in 19 markets, DBS is one of Asia's top financial services companies. Headquartered and listed in Singapore, DBS Bank's key primary business regions are Greater China, Southeast Asia, and South Asia. Among the best credit ratings in the world are the bank's "AA-" and "Aa1" ratings. For the corporate credit facility of DBS Bank India Ltd (DBIL), CRISIL Ratings reaffirmed its "CRISIL AAA/Stable" rating in 2024. Additionally, "CRISIL A1+" was maintained as the rating on the certificate of deposits program.