State Bank of India (SBI), country’s largest bank, announced the launch of ‘SBI InCube’, a dedicated branch for Start-ups. SBI InCube branch is a specialised branch to understand and address your banking needs for setting up a start-up. The bank will provide you the best suitable solutions in banking transactions and investments on a robust technology platform for your business model.
The Bank launched the offering in Bengaluru initially and will roll it out in other cities during the course of the year.
The branch is in Bengaluru St. Mark’s Road which is first of its kind in India. Simultaneously web inauguration of the help desk for Start-ups at Bannerghatta Road will be done. The branch will cater exclusively to the growing banking needs of start –ups.
With the strong technology platform on which Bank is operating, a host of products like liability products, assets products and services in Foreign exchange, remittances, cash management etc are being presently offered.
Smt Arundhati Bhattacharya said that with the new initiative of starting the SBI InCube, long felt desire for helping, guiding and counselling the new entrepreneurs in starting a new company / business enterprise, which so far was not available in the banking industry will be fulfilled. With this, the entrepreneurs will be guided right from setting up of a company (like registration of the company), legal issues connected with that, taxation issues etc will be properly explained to them under one roof.
Currently SBI has specialised branches for large corporates (Corporate Accounts Group), Mid-corporates (Mid Corporate accounts Group) and small and medium enterprise (National Banking Group). With the opening of InCube Branch, the start-ups requirement will be fully addressed, thus comprehensively covering the entire gamut of SME segment.
- Experienced relationship managers, who know the exact solutions for your banking needs
- Comprehensive, competitively priced financial products and services
- Integrated online and mobile banking solutions to save your time & money
- Solutions that streamline receivables and payables and optimise cash conversion cycle
- Limited advisory on investments, taxation and forex transactions that help optimise liquidity, capital preservation and return
SBI InCube is currently at Bengaluru at the following address:
SBI InCube Branch (11349)
Local Head Office complex
2nd Floor, above SPB Branch
Near Exit Gate – 3
No. 65, St. Mark’s Road
Bengaluru – 560001
Tel: 080 2594 3334
Fax: 808 2594 3329
Download the Startup Monthly Newsletter from SBI.
Download the detailed presentation for startups by SBI InCube. This presentation includes the various products for startups in India as well as detailed steps to incorporate a business in India. One good thing about the presentation is that it talks about funding received in USD and the ways to remit it back to India.
Website : SBI InCube