SBI opened its fourth branch exclusively for startups in Mumbai’s BKC area. At the inaugural event, SBI Chairman Dinesh Khara stated that the branch’s key objective is to offer comprehensive assistance to startups throughout their journey, from establishing their business entity to conducting IPOs and FPOs.
SBI’s fourth startup branch:
In addition to providing standard banking services to startups, the branch will also serve as a comprehensive resource for investment banking, treasury/forex, advisory, and other supplementary financial services offered by the bank’s subsidiaries, according to him. Reports suggest that SBI plans to cater not only to startups but also to the needs of private equity (PE), venture capital (VC), and alternative investment funds (AIFs).