SBI Launches First Dedicated Branch For Startups InCube

The State Bank of India, has launched first exclusive startup bank branch – SBI InCube in Bangalore. It is a specialised branch to understand and address banking needs of startups.

Talking at the Launch event, SBI Chairman, Arundhati Bhattacharya said, “SBI is striving to make its structure more amenable to the requirements of startups. We want to be a part of the growth of startups and India itself.  We will support entrepreneurs in their ventures and let them do their job of innovating. ”

The branch was inaugurated by SBI Chairman, Arundhati Bhattacharya in the presence of Mohandas Pai, G.V.Ravishankar (Sequoia) and other industry leaders today.

SBI plans to set up more branches in coming time in Delhi-NCR and Pune.

Through the ‘SBI InCube’, the bank will be helping, guiding and counselling the entrepreneurs in starting a new company or business enterprise.

Key Features

1. Dedicated Relationship Manager to satisfy all needs of a Startup, works as a single point of contact, end to end solution for mentoring startup for regulatory requirement.
2. Dedicated Startup counselling desk for round the clock assistance.
3. Cash management solutions that streamline your receivables and payables, minimise risk and help shorten your cash conversion cycle.

SBI will also look at setting up a small fund to invest in startups.

More details here.

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