DBS Bank India declares a lending assistance of $250 million for startups and enterprises in the 'new economy' sector.

DBS Bank India has unveiled a lending pledge of USD 250 million for emerging startups, as part of its commitment to nurturing innovation and entrepreneurship within the country's flourishing startup ecosystem. The Indian startup landscape, a vital driver of the nation's developmental aspirations, has witnessed remarkable growth, boasting over 90,000 startups and more than 100 unicorns by 2024. Despite this resilience, access to capital remains a persistent challenge for these enterprises in today's dynamic environment.

Rajat Verma, Managing Director and Head of the Institutional Banking Group at DBS Bank India, emphasized the timeliness of the bank's lending commitment, noting the sector's improved operational performance and heightened focus on profitability in recent years. Verma highlighted DBS Bank India's strategy to leverage its advanced digital capabilities, extensive Asian networks, and collaborative ecosystem partnerships to provide comprehensive support to startups. This support extends beyond banking services to empower innovators in streamlining operations, managing logistics, and accessing broader business networks. Verma reiterated the bank's overarching goal of becoming a trusted partner for startups across various sectors, offering sustained support throughout their business journey.

Having established its presence in India since 1994, DBS Bank has been serving individuals and businesses for 29 years, offering a range of banking solutions. The merger of Lakshmi Vilas Bank and DBS Bank India Limited in November 2020 has further strengthened its footprint, with over 530 branches across 19 Indian states. Headquartered and listed in Singapore, DBS Bank operates in key growth areas across Greater China, Southeast Asia, and South Asia.