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Finance Secretary launches Baroda Startup Banking in 15 cities

The products include customised current accounts, state-of-the-art payments gateways, corporate credit cards, corporate salary accounts and credit facilities apart from other existing products of the bank.

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Last Updated: Feb 26, 2020, 04.36 PM IST
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The initiative was launched simultaneously across 15 cities in the country.
NEW DELHI: Finance Secretary Rajiv Kumar on Wednesday inaugurated Baroda Startup Banking, an initiative aimed at making the bank a preferred banking partner for the start-up community and establishing connect with at least 2,000 startups over the next two years.

The initiative was launched simultaneously across 15 cities in the country.

It will include 15 Baroda Startup branches that will offer a bouquet of tailor-made banking products and services that have been designed keeping in mind the unique and specialized banking requirements of startups, Kumar said after the inauguration here.

The products include customised current accounts, state-of-the-art payments gateways, corporate credit cards, corporate salary accounts and credit facilities apart from other existing products of the bank, he said.

In addition to end-to-end banking solutions for startups, the bank will also ensure that it meets the ancillary needs of start-ups by partnering with marquee service providers to assist start-ups by way of cloud credits, mentorship, co-working space, legal/accounting services and other support services, he said.

Proactive steps by the government, including fiscal incentives made available in the 2019 Budget, support from corporates and academia, a huge talented young workforce ready to unleash the entrepreneurial spirit and active participation of global investors have helped make the start-up ecosystem in the country more conducive to growth, he said.
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