Above the Fold: Strengthening Financial Foundations

SBI announces its first Startup exclusive branch situated in Koramangala, Bengaluru. This branch will provide financial services to upcoming startups. The government of Karnataka and SBI have come together to fund startups and encourage new ideas.

  • Laasya
  • Fri Sep 30 2022 2 mins read


    Bengaluru, Karnataka is every startup’s dream location. It has been ranked India's strongest startup ecosystem, 8th worldwide. How could it not be? Bangalore integrates the best of the spheres a startup might need in its initial stages like investors, access to new ideas and talent, and other perks like climate and infrastructure. But maintaining a reputation like this is no easy feat and the government of Karnataka understands this fact well.

    SBI has recently declared that they are launching a branch in Bangalore to focus solely on start-ups. It is a hub for startups to obtain the necessary financial help they need for starting their journey till the time they are financially stable. Situated in Koramangala, the prime location of startups, it is easily accessible to an increasing number of growing startups. The exclusive branch will provide services like loans, trading, deposits, transaction banking, cash management, foreign exchange, insurance, custody services, structuring, capital market and legal advising.

    A Memorandum of Understanding (MoU) between the Karnataka Digital Economy Mission (KDEM) and SBI was established in order to strengthen the state's current startup environment. The branch will work very closely with the initiatives taken by Karnataka to encourage startups.

    Bangalore is not the only city SBI plans to set up such branches in, with the second being established in Gurugram and third in Hyderabad. Furthermore, SBI has already funded more than 100 startups all over the country.

    This branch is an attempt to reduce startups from selling their stakes cheaply in return for money when they are unable to get a loan from the bank directly. India is a developing nation, and new ideas are what drives a country forward. SBI's initiative to fund upcoming startups is the best way the government can support the country's progress.

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