SBI Chairman Dinesh Khara at the inauguration of the start-up branch at BKC on Monday.
| Photo Credit: EMMANUAL YOGINI
State Bank of India (SBI) chairman Dinesh Khara on Monday said that the bank’s newly set up specialised branch for start-ups will provide end-to-end support at every stage of their journey, starting from the formation of the entity till their IPOs and FPOs.
“Apart from regular banking services to start-ups, the branch will also act as a one stop shop in providing investment banking, treasury/forex, advisory and other ancillary financial services through the bank’s subsidiaries,” he said. He was speaking at the inauguration of the bank’s fourth specialised start-up branch at BKC in Mumbai.
Besides start-ups, the bank would also cater to the requirements of private equity (PE), venture capital (VC) and Alternative Investment Funds (AIFs).
Leveraging its locational advantage, the start-up branch in Mumbai has entered into MoUs with Society for Innovation & Entrepreneurship (SINE) at IIT-Bombay, Centre for Incubation and Business Acceleration (CIBA), and S.P Jain Institute of Management & Research (SPJIMR), SBI said in a statement.
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