The country’s largest lender, State Bank of India (SBI) has launched its first branch dedicated to start-ups in Koramangala, Bengaluru. SBI Chairman Dinesh Khara launched the branch in Koramangala near HSR Layout and Indiranagar which are the biggest start-up hubs in the city. After Bengaluru, the next branch will be opened in Gurgaon and the third one will be in Hyderabad. These branches would support the needs of the entire start-up ecosystem.
- The branch will provide services ranging from the stage of formation of start-ups to Initial Public Offerings and Follow-on Public Offerings.
- Apart from providing funding and regular banking service to start-ups, SBI will also support such players through associated services such as investment banking, treasury operations, advisory and other ancillary financial services through its subsidiaries.