The State Bank of India, inaugurated its fourth start-up branch in Mumbai to provide all the necessary banking services to start-ups under one roof. Shri Dinesh Khara, Chairman of SBI, inaugurated the branch at Bandra Kurla Complex in Mumbai.

Leveraging its locational advantage, the start-up branch in Mumbai has already entered into MoU (memorandum of understanding) with the Society for Innovation and Entrepreneurship (SINE) at IIT-Bombay, Centre for Incubation and Business Acceleration (CIBA), and S.P Jain Institute of Management and Research (SPJIMR).

For a city that houses unicorns and a vast number of start-ups, the branch will provide expedient services to all of them to support the growth and transformation of the start-ups in India. 

“The primary aim of this branch is to provide end-to-end support to startups at every stage of their journey, starting from the formation of the entity to their IPOs and FPOs. Apart from regular banking services to startups, the branch will also act as a one-stop shop to provide investment banking, treasury/forex, advisory, and other ancillary financial services through the bank's subsidiaries,” said Dinesh Khara, Chairman, SBI.

Besides start-ups, the bank also intends to cater to the requirements of private equity (PE), venture capital (VC), and Alternative Investment Funds (AIFs).