SBI on Monday launched a branch dedicated to startups in Bengaluru, which will cater to the entire gamut of startups’ needs, at every stage of their evolution. Apart from providing funding and regular banking services, the bank will also support the startups with associated services such as investment banking, treasury operations, advisory and other ancillary financial services, through its diverse subsidiaries.
“In the years ahead, among others, startups are expected to anchor the growth of MSMEs by providing cutting edge technology which in turn will help in employment generation and in realising the vision of transforming the economy into a developed one by 2047. The initiative is just a first step in this direction, with more such branches expected to come up to lend support to startups across the country. Opening of a branch for startups demonstrates the seriousness and intent of the bank in lending all possible support to the flourishing startup ecosystem which is immensely contributing to the economic development of the country”, said Dinesh Khara, Chairman, SBI, while inaugurating the branch, on the completion of 75 years of independence.
