Bank of Baroda has signed a memorandum of understanding (MoU) with Software Technology Parks of India (STPI) and AIC STPINEXT Initiatives to support startups across India under its Baroda Startup Banking programme.
Under this program, 15 dedicated startup branches are operational across the major startup hubs viz. Gurgaon, Delhi, Noida, Bengaluru, Chennai, Mumbai, Jaipur, Ahmedabad, Pune, Hyderabad, Chandigarh, Lucknow, Kolkata, Indore and Kochi.
Some of the key offerings under Baroda Startup Banking will be dedicated and trained bank officials – startup champs and relationship managers – who will be a single touch point for the customers and bouquet of banking products designed exclusively for startups.
Also, an array of services provided at preferential rates by marquee service providers in the field of cloud computation, co-working spaces, taxation, accounting, legal, etc is part of the programme introduced by Bank of Baroda and STPI.
Speaking on the association, Akhil Handa, chief digital officer at Bank of Baroda said: “2020s is the decade of startups and as a leading financial institution, we are continuously working towards designing innovative banking products and services, which meets the unique and specialized banking requirements of startups. This has led to our partnership with STPI & STPINEXT, which have emerged as one-of-their-kind enabler for innovative startups pan India. Through this partnership, we will together fuel the growth of startup ecosystem in India.”