IDFC First Bank, NASSCOM COE partner to promote start-up ecosystem

A Memorandum of Understanding (MoU) was signed between IDFC First Bank and NASSCOM COE, appointing the bank as a preferred banking partner for startups in Bengaluru. 

IDFC First Bank will offer its solutions for startups, including zero balance startup current account, working capital solutions for pre-profit startups, and business credit cards, among others, said a release. 

While NASSCOM CoE will bring in technology and domain expertise to the partnership, IDFC First Bank will offer tailored financial products to support innovation and entrepreneurship. 

“As a bank, we are committed to creating a strong ecosystem that enables grassroot level startups to prepare for the road ahead and help startups achieve critical milestones,” said Bhavesh K Jatania, Head, Startup Banking at IDFC First Bank. 

Sanjeev Malhotra, CEO of NASSCOM Center of Excellence, said this the partnership will guide startups on technology as well as the financial side. 

The National Association of Software and Services Companies (NASSCOM) is the premier trade body and chamber of commerce of the tech industry in India and comprises over 3,000 member companies.