SBI opens fourth specialised Startup branch in Mumbai

Mumbai, Apr 25 (KNN) State Bank of India (SBI) on Monday inaugurated its fourth specialised branch for startups at BKC in Mumbai.

Addressing the inaugural ceremony, SBI Chairman Dinesh Khara said the primary aim of the branch is to provide end-to-end support to startups at every stage of their journey, starting from the formation of the entity till their IPOs and FPOs.

Apart from regular banking services to startups, 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.

As per reports, besides startups, the bank also intends to cater to the requirements of private equity (PE), venture capital (VC) and Alternative Investment Funds (AIFs).

Mumbai is home to the second highest number of unicorns in the country after Bengaluru.  (KNN Bureau)