DPIIT HDFC Bank MoU: DPIIT signs MoU with HDFC Bank, Tally Solutions to assist startups

The Department for Promotion of Industry and Internal Trade (DPIIT) on Tuesday said it has inked pacts with HDFC Bank and Tally Solutions to help startups growth. Under the MoU with the bank, startups will benefit from customised banking and financial products designed to cater to their specific requirements, such as working capital, credit access, and cash flow management.

Sumeet Kumar Jarangal, director of Startup India, said by leveraging the bank’s expertise and resources, DPIIT aims to provide startups with seamless access to financial services and innovative solutions.

“This collaboration will not only effectively combat the critical challenges like funding and financial management but also create a conducive environment for startups to innovate and flourish in a result-oriented manner,” he said.

The department has also signed a Memorandum of Understanding (MoU) with Tally Solutions, provider of business management software.

It said that Tally Solutions will offer training, free one-year rental licenses of Tally Prime software for participants, targeted modules covering critical business areas such as accounting principles, tax compliance, marketing strategies, digitisation tools, and investor readiness.