Bank of Baroda signed MoU with iDEX

Bank of Baroda has signed a Memorandum of Understanding (MoU) with Innovations for Defence Excellence (iDEX) on 22 October 2026, under the theme “Partnership in Defence Startup and Entrepreneur Ecosystem”, to strengthen financial support for startups and entrepreneurs contributing to India’s defence and aerospace sectors.

The MoU was signed by Mr Ashwini Kumar, General Manager – MSME Banking, Bank of Baroda, and Mr Vivek Kumar Sharma (IOFS), DDG (iDEX) and Chief Operating Officer.

The Bank was represented by Brig Lalit Joshi, Defence Banking Advisor, and Mr Praveen K Singh, Deputy General Manager – Defence Banking. Representing iDEX were Mr Shekhar Kaushik, Chief Financial Officer, Ms Sanjana Sangwan, and Mr Animesh Singhal.

Appreciating the significant role and efforts of iDEX, Mr Ashwini Kumar reaffirmed Bank of Baroda’s commitment to supporting India’s mission of self-reliance in the defence sector by extending financial assistance to startups and entrepreneurs for product development.