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Bank of Baroda opens exclusive branches for startups

Bank of Baroda has set up a program for startups in which the bank will be a preferred partner for the startups. Under the ‘Baroda Startup Banking’ program, the bank will set up exclusive startup branches offering a bouquet of tailormade banking products and services that have been designed keeping in mind the unique and specialized banking requirements of startups. The products include customized startup current accounts, state of the art payment gateways, corporate credit cards and credit facilities apart from other existing products of the bank. It has established 10 such dedicated startup branches across major startup hubs of the country – Gurugram, Delhi, Noida, Bengaluru, Chennai, Mumbai, Jaipur, Ahmedabad, Pune and Hyderabad. In the next phase, it plans to add Lucknow, Indore, Kolkata, Kochi and Chandigarh to its startup branches network.  P.S Jayakumar, MD & CEO of the bank, said the bank has designed this program considering market research inputs towards the tailored requirements of startups. These exclusive branches will have dedicated relationship managers, who would partner with startups and build lifecycle engagement with them, he added.

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