Bank of Baroda Launches Start-Up Branches in 10 cities - Pinkcity News

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Friday, 9 August 2019

Bank of Baroda Launches Start-Up Branches in 10 cities


To connect with 1000 start-ups over two years, offer tailor-made banking products
bank of baroda के लिए इमेज परिणाम
Mumbai, 09 August 2019: Bank of Baroda, India’s 2nd largest public sector bank, has launched the Baroda Start-up Banking program to become a preferred banking partner for start-ups and establish connect with at least 1000 start-ups over the next two years.
Start-ups are a key growth engine for the economy in terms of job creation and pushing the frontiers of innovation. India has the third largest start-up ecosystem in the world, with over 15,000 start-ups recognized by the Government. More than 5,000 start-ups are expected to join this bandwagon over the next few years.
Under the program, the Baroda Start-Up Branches will offer a bouquet of tailor-made banking products and services that have been designed keeping in mind the unique and specialized banking requirements of start-ups.The products include customized start-up current accounts, state of art payments gateways, corporate credit cards and credit facilities apart from other existing products of the Bank.
Shri. P.S. Jayakumar, MD&CEO, Bank of Baroda said, “We have designed this program considering market research inputs towards the tailored requirements of start-ups. The Baroda Start-up Branches will have dedicated Relationship Managers, who would partner with start-ups and build lifecycle engagement with them. This will also enable us to contribute to the government’s Start-up India initiative.”
Currently, the bank has established 10 dedicated start-up branches across major start-up hubs of the country viz. Gurugram, Delhi, Noida, Bengaluru, Chennai, Mumbai, Jaipur, Ahmedabad, Pune and Hyderabad. In the next phase, Bank will also add Lucknow, Indore, Kolkata, Kochi and Chandigarh to our startup branches network.
In addition to the end-to-end banking solutions for start-ups, the bank has also partnered with various service providers to provide assistance to start-ups by way of cloud credits, co-working Space, Legal/Accounting Services and Digital Marketing. 

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