State Bank of India (SBI) Launches Dedicated Startup Branch in Gurugram
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The State Bank of India (SBI) has launched its third dedicated branch for startups in Gurugram to provide comprehensive support to entrepreneurs, from entity formation to the issuance of IPOs and FPOs. Get all the details here.
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State Bank of India (SBI) has established its third dedicated branch for startups in the nation, located in Gurugram. During the branch’s inauguration, SBI Chairman Dinesh Kumar Khara announced that it would provide comprehensive support to startups, from entity formation to the issuance of IPOs and FPOs. Gurugram is home to the third-highest number of unicorns in India, following Bengaluru and Mumbai.
Key Features of SBI’s Third Startup Branch in Gurugram
SBI has opened its third specialized branch for startups in Gurugram, providing entrepreneurs with all the necessary banking services under one roof. As per SBI’s statement, Gurugram is home to the third-highest number of unicorns in India after Bengaluru and Mumbai. The main goal of the branch, as stated by SBI Chairman Dinesh Khara, is to offer end-to-end support to entrepreneurs at every stage of their journey, from organization creation to IPOs and FPOs.
Services Offered by the Specialized Startup Branch
The branch will serve as a one-stop-shop for startups, offering a range of ordinary banking services, as well as investment banking, treasury/forex, advising, and other ancillary financial services through the bank’s subsidiaries. In addition to startups, the bank also aims to meet the needs of private equity, venture capital, and alternative investment funds.
Memorandums of Understanding Signed by SBI Startup Branch in Gurugram
The startup branch in Gurugram has signed MoUs with various organizations, including 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.