Public sector lender Indian Bank has entered into pact with Chennai-based angel investment group ‘The Chennai Angles‘ for financing start-ups under the bank’s loan product Ind Spring Board. The MoU was signed on Thursday.
Under this project, Indian Bank will support start-ups by extending credit facilities up to ₹50 crore for working capital needs and also fund term-loan requirements for acquiring fixed assets for their units, said the bank in a statement.
