On Monday, State Bank of India (SBI) opened a specialized branch for start-ups at Bandra Kurla Complex in Mumbai, which will provide all banking services required by start-ups under one roof. This is SBI’s fourth specialized branch for start-ups, with the other three branches located in Bengaluru, Chennai, and Gurugram.
SBI Startup branches
|1st branch for startups||Bengaluru|
|2nd branch for startups||Chennai|
|3rd branch for startups||Gurugram|
|4th branch for startups||Mumbai|
The aim of this branch is to provide end-to-end support to start-ups at every stage of their journey, starting from the formation of the entity till their IPOs and FPOs. In addition to regular banking services, the branch will also provide investment banking, treasury/forex, advisory, and other ancillary financial services through the bank’s subsidiaries.
The bank also intends to cater to the requirements of private equity (PE), venture capital (VC), and Alternative Investment Funds (AIFs). The startup 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).