CURRENT AFFAIRS

Detailed explanation-1: -The correct answer is Indian Bank. Public sector lender Indian Bank, in collaboration with IIT Madras Incubation Cell (IITMIC), has unveiled ‘Ind SpringBoard, ’ an initiative for funding startups.

Detailed explanation-2: -Kotak Mahindra Bank Partners IIT Madras to Launch “Kotak IITM Save Energy Mission” Mumbai: Kotak Mahindra Bank Limited (“KMBL/ “Kotak”) and the Indian Institute of Technology-Madras (IITM) yesterday (19th Sept 2022) announced their CSR partnership to launch Kotak IITM Save Energy Mission.

Detailed explanation-3: -Venture capital backed startups have very different banking needs vs traditional small businesses. We’ve worked with hundreds of funded companies that have raised billions of dollars in VC funding - right now the best banks for startups are SVB, FRB, Rho and Mercury.

Detailed explanation-4: -Notes: A Memorandum of Understanding was signed between Indian Bank and IIT Bombay for extending credit facilities to Start-ups and MSMEs. The initiative is implemented by IIT Bombay.