Singapore-based DBS Bank and Tata Institute of Social Sciences (TISS) joined hands to launch a programme which will support social entrepreneurship.
The 'DBS-TISS Social Entrepreneurship Programme' entails support to social entrepreneurs from the city-based prestigious institute for a period of three years for which the foreign lender will provide seed fund.
"Under the partnership, we will provide support to the students of TISS to start social ventures," DBS Bank India Chief Executive Sanjiv Bhasin told reporters. He, however, refused to divulge details regarding funding arrangements.
Talking on the the type of funding, Bhasin said they would be project-specific and a part of the bank's corporate social responsibility (CSR) activities.
Stating that the tie-up will provide crucial support to budding entrepreneurs, TISS Director S Parsuraman said, "building capabilities of the marginalised and excluded communities with initiatives such as market linkage, timely funding and appropriate information is the new way of development."
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Updated Date: Dec 20, 2014 11:15:19 IST