Bank of Baroda has launched a startup banking initiative to help offer services and products to the startup community. The proposal is to connect some 2000 startups over the next 2 years. The scheme was launched by finance secretary Rajiv Kumar across 15 cities in the country. He said the proposal will include 15 Baroda Startup branches that will offer a bouquet of tailor-made banking products and services that have been designed keeping in mind the unique and specialized banking requirements of startups. The bank will offer at these specialized centers products including customized current accounts, state-of-the-art payments gateways, corporate credit cards, corporate salary accounts and credit facilities apart from other existing products of the bank. The bank has more than 400 startups as its customers. The bank will also ensure that it meets the ancillary needs of startups by partnering with marquee service providers to assist startups by way of cloud credits, mentorship, co-working space, legal and accounting services among others.
