DBS Bank India has pledged $250 million for innovative for new-age start-ups. The initiative is part of the bank's focus on fostering innovation and entrepreneurship within the country's thriving startup ecosystem, the firm said.
The Indian start-up sector has seen significant expansion over the years with over 1,12,718 DPIIT-recognised start-ups and 113 unicorns with a total valuation of more than $350 billion as of January 31,2024.
Rajat Verma, managing director and head, Institutional Banking Group, DBS Bank India said, “We believe that our lending commitment of $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. 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."
The bank said its advanced risk assessment framework, which combines traditional metrics with modern analytical tools, ensures a balanced approach to financing. The comprehensive evaluation process ensures that DBS Bank India can deliver tailored banking solutions that match the dynamism of the industry innovators it partners with. Given the unique hurdles encountered by start-ups in the digital economy, it goes the extra mile to offer a host of exclusive benefits curated from across partners, which will enable these companies to bolster agility and unlock growth. Through platforms like DBS Businessclass FoundED, the bank celebrates modern-day founders, engaging with over 1000 start-ups and 50 incubators across India till date.
The major financial services bank has its presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world. In 2024, CRISIL Ratings reaffirmed its ‘CRISIL AAA/Stable’ rating on the corporate credit facility of DBS Bank India Ltd (DBIL). The rating on the certificate of deposits programme was also reaffirmed at ‘CRISIL A1+’.
DBS Bank has been present in India for 29 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly owned, locally incorporated subsidiary of a leading global bank.
DBS provides a range of banking services for large, medium, and small enterprises and individual consumers in India, focusing on a seamless customer experience that helps them ‘Live more, Bank less’.
In November 2020, Lakshmi Vilas Bank was merged with DBS Bank India Limited. DBS Bank India now has a network of ~530 branches in 19 Indian states.
