State Bank of India (SBI), India’s largest public sector has set up start up fund worth Rs 200 crore. The fund is dedicated for investment in IT innovations and start-ups and would be extending up to Rs 3 crore for all India-registered companies so that they can promote their business in India using IT for banking.
SBI start up fund for 200 crore launched for investors in IT innovations and start-ups
The SBI InCube branches will have experienced and dedicated relationship managers who will offer solutions to various entrepreneurial needs. SBI have started a single window banking relationship support to be offered to start-ups. It would be provided to start-ups through its dedicated Bangalore branch; the bank has been operational for last 6 months, and has already added more than 200 clients.
The branch will help entrepreneurs on various fronts and will offer them advisory services like
- What registrations/approvals are needed to start a business
- What tax considerations should be kept in mind
- Do they need CIN/TIN/TAN etc
- How to manage startup finances and funds
For more information about SBI start up plans you can visit the official website.