New Delhi, Mar 20 (KNN) DBS Bank India has announced a significant lending commitment of USD 250 million aimed at supporting new-age start-ups. This initiative is a crucial part of the bank's strategy to foster innovation and entrepreneurship within India's flourishing start-up ecosystem.

The Indian start-up sector, considered a fundamental pillar of the country’s development goals, has witnessed remarkable growth over the years, boasting over 90,000 start-ups and more than 100 unicorns as of 2024.

Recognising the transformative potential of start-ups, especially those leveraging emerging technologies, DBS Bank India has allocated USD 250 million in lending support. The focus is on backing enterprises poised to redefine industry standards with innovative solutions.

Rajat Verma, Managing Director & Head of the Institutional Banking Group, DBS Bank India, expressed admiration for the ability of new-age entrepreneurs to utilise innovation in addressing real-world challenges. He emphasised the bank's commitment to playing a constructive role in their growth journey.

He stated, “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 start-ups comes at an opportune time as the sector has been demonstrating improved operating metrics and a sharper focus on profitability in recent years,” he added.

(KNN Bureau)