Bank of Baroda launches 'startup branches' in 10 cities
Published on : Monday 30-11--0001
Under the initiative, the select Baroda startup branches will offer a bouquet of tailormade products designed keeping in mind the specialized banking requirements of startups.
Currently, the bank has established 10 dedicated startup branches across major startup hubs of the country.
To become a preferred banking partner for startups, Bank of Baroda, India’s 2nd largest public sector bank, has launched the ‘Baroda Startup Banking’ program.
Under the initiative, the select Baroda startup branches will offer a bouquet of tailormade banking products and services that have been designed keeping in mind the unique and specialized banking requirements of startups. The products include customized start-up current accounts, state of the art payment gateways, corporate credit cards and credit facilities apart from other existing products of the bank.
Currently, the bank has established 10 dedicated startup branches across major startup hubs of the country viz. Gurugram, Delhi, Noida, Bengaluru, Chennai, Mumbai, Jaipur, Ahmedabad, Pune and Hyderabad. In the next phase, it also plans to add Lucknow, Indore, Kolkata, Kochi and Chandigarh to its startup branches network.
P.S Jayakumar, MD & CEO, Bank of Baroda said, in a statement, “We have designed this program considering market research inputs towards the tailored requirements of startups. The Baroda Startup Branches will have dedicated Relationship Managers, who would partner with startups and build lifecycle engagement with them. This will also enable us to contribute to the government’s Start-up India initiative.”