SBI Launches First Dedicated Branch For Startups – SBI InCube

India’s largest lender, State Bank of India (SBI) has launched dedicated specialized branch for start-ups called ‘SBI InCube’ in Bengaluru, Karnataka. It was announced by BI Chairman Arundhati Bhattacharya in Bengaluru, Karnataka. SBI InCube The ‘SBI InCube’ branch will cater to the specific financial needs by providing advisory services to the budding entrepreneurs under one roof It will assist start-ups in cash management, regulations, taxation, mentoring, foreign exchange and remittances and other financial services.

InCube in its current form will not fund start-ups i.e. it will not provide loans. However it will give them loans when they turn more mature. It will also not help start-ups to raise funds from equity market as it not part of bank’s mandate. InCube branch in Bengaluru will be headed by an assistant general manager and a team of three other officers. Soon SBI will be launching these branches in Pune and National Capital Region (NCR). SBI Exclusif SBI also has launched wealth management service ‘Exclusif’ to target the fast-growing affluent segment in the country. This service will provide customers a dedicated Relationship Manager to take care of all their banking and investment needs.