The RBL Bank on 19 April 2016 became the first private sector bank in India to open dedicated branch for start-ups. The dedicated branch was inaugurated at Koramangala, Bengaluru by Nandan Nilekani, noted entrepreneur and former chairman of Unique Identification Authority of India (UIDAI).
The move came following the launch of first branch dedicated of the State Bank of India in January 2016 to serve the needs of start-ups in Bengaluru.
Highlights of the Bank
• The first exclusive bank branch for start-ups will offer a bouquet of banking products to service the end-to-end needs of the emerging entrepreneurial eco-system.
• The branch will assist entrepreneurs in setting up new enterprises or companies.
• It will offer them host of banking products including, foreign exchange services, remittances and cash management.
• It will also provide a range of value added services including legal and tax formalities, registration etc. through its affiliates and partners.
About RBL Bank
The RBL Bank is a scheduled commercial bank headquartered in the Kolhapur, Maharashtra. Founded in August 1943, RBL is one of the oldest private sector banks in India.
The Bank currently services approximately 1 million customers and has a total business size of over 20000 Crore rupees.
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Who: RBL Bank
When: 19 April 2016