The third dedicated branch for start-ups in the nation has been established by State Bank of India (SBI) in Gurugram. Dinesh Kumar Khara, the chairman of SBI, declared during the branch’s inauguration on Thursday that it will offer start-ups comprehensive support from entity formation through the issuance of IPOs and FPOs. Gurugram is home to the third-highest number of unicorns—startups valued at $100 billion or more—in India, behind Bengaluru and Mumbai.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
‘BizKhata’ for small businesses and merchant partners launched by Airtel Payments Bank
The office would serve as a one-stop shop for startups, offering ordinary banking services as well as investment banking, treasury/forex, advising, and other ancillary financial services through the bank’s subsidiaries, it said. The bank also plans to meet the needs of private equity (PE), venture capital (VC), and alternative investment funds in addition to startups (AIFs).
The startup branch in Gurugram has signed memorandums of understanding (MoUs) with the Ministry of Electronics and Information Technology-affiliated MeitY Startup Hub, Foundation for Innovation and Technology Transfer (FITT) at IIT-Delhi, Pusa-Krishi (ICAR-IARI), Technology Incubation and Entrepreneurship Development Society (TIEDS) at IIT-Roorkee, and FITT at IIT-Delhi.
RBI announces pilot for QR code-based Coin Vending Machine
Also Read: HDFC Bank collaborates with Microsoft as part of its digital transformation
From the sprawling plains of the Midwest to the sun-kissed shores of the Pacific, the…
The Indian political landscape has lost a seasoned leader with the passing of V. Srinivas…
The Badminton World Federation (BWF) has announced that India will host the prestigious 2025 BWF…
In the mosaic of American cities, certain urban centers stand out as bastions of liberal…
In a remarkable achievement, ICICI Bank has etched its name among India's top five companies…
The Government of India has introduced a Floating Rate Bond (FRB) maturing in 2034, with…