Touted as one of the largest public sector banks in the country, Bank of Baroda has now stepped ahead to support startups across various regions in the country. Reportedly, the bank entered into an agreement with Software Technology Parks of India (STPI) for this purpose. As per reports, the bank will facilitate budding startup companies under Baroda Startup Banking Program, across 15 Indian cities, including Lucknow.
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As a part of the project, 15 dedicated startup branches are functional across different cities in the nation, which have a booming startup culture. This includes Gurugram, Delhi, Noida, Bengaluru, Chennai, Mumbai, Jaipur, Ahmedabad, Pune, Hyderabad, Chandigarh, Lucknow, Kolkata, Indore and Koch.
Under this project, the Bank of Baroda will help startups in a number of ways. It has been reported that the bank will deploy committed and upskilled employees for handling the dealings related to the startups. As per reports, these startup champs and relationship managers will function as the single touchpoint, ensuring easier processes for the beneficiaries.
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Reports state that the bank will also provide specially customised plans and products to aid the startups. In addition to this, a range of other facilities will be available for the advantage of the startups. This includes preferential rates by marquee service providers in the field of cloud computation, co-working spaces, taxation, accounting, legal amongst other things.
As per reports, several banks in the country, like State Bank of India, Axis Bank and HDFC have supported accelerated startup growth through incentivised plans. Now, the latest scheme by the Bank of Baroda will boost startup journeys by offering greater solutions for their financial problems.
- With inputs from Indian PSU
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