Bank of Baroda (BoB), on Friday, said it has launched the Baroda Start-up Banking programme to become a preferred banking partner for start-ups and to connect with at least 1,000 start-ups over the next two years.
Under the programme, the start-up branches will offer a bouquet of tailor-made banking products, including customised start-up current accounts, state-of-the-art payment gateways, corporate credit cards and credit facilities, apart from other existing products of the bank, and services, Bank of Baroda said in a statement.
The bank has established 10 dedicated start-up branches across major start-up hubs of the country – Gurugram, Delhi, Noida, Bengaluru, Chennai, Mumbai, Jaipur, Ahmedabad, Pune, and Hyderabad.
In the next phase, the bank is planning to add Lucknow, Indore, Kolkata, Kochi, and Chandigarh to its start-up branches network. PS Jayakumar, Managing Director and Chief Executive Officer, Bank of Baroda, said: “We have designed this programme 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.”
In addition to the end-to-end banking solutions for start-ups, India’s second-largest public sector 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.