Latest News | Business Briefs SBI Inaugurates Its Fourth Startup Branch in Mumbai
Get latest articles and stories on Latest News at LatestLY. State Bank of India (SBI) on Tuesdasy inaugurated its fourth startup branch in Mumbai to provide all the necessary banking services to startups under one roof.
New Delhi, Apr 25 (PTI) State Bank of India (SBI) on Tuesdasy inaugurated its fourth startup branch in Mumbai to provide all the necessary banking services to startups under one roof.
Leveraging its locational advantage, the startup branch in Mumbai has already entered into an MoU with the Society for Innovation & Entrepreneurship (SINE) at IIT-Bombay, Centre for Incubation and Business Acceleration (CIBA), and S.P. Jain Institute of Management & Research (SPJIMR), SBI said in a statement.
The branch will provide expedient services to all of them to support the growth and transformation of the startups in India, it said.
SBI Chairman Dinesh Khara said the primary aim of this branch is to provide end-to-end support to startups at every stage of their journey, starting from the formation of the entity to their IPOs and FPOs.
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Apart from regular banking services to startups, the branch will also act as a one-stop shop to provide investment banking, treasury/forex, advisory, and other ancillary financial services through the bank's subsidiaries, he said.
Besides startups, the bank also intends to cater to the requirements of private equity (PE), venture capital (VC), and Alternative Investment Funds (AIFs).
*** ICICI Bank launches 'Summer Bonanza' * ICICI Bank on Tuesday launched a new edition of 'Summer Bonanza' to offer its customers a wide range of exciting deals and discounts across various categories.
This year, ICICI Bank has curated special EMI offers with the theme of "Beat the heat with EMIs", which will allow customers to save more on purchases across mobiles, electronics, travel and online shopping categories while making it more affordable, the bank said in a statement.
With this, the bank aims to provide its customers a shopping experience by offering them a plethora of discounts and cashbacks on their favourite products and services, it said.
Customers can make the most of these exciting offers with their ICICI Bank credit and debit cards, internet banking, EMIs and consumer finance, it said.
*** SBI General launches digital-only health product 'Health Edge' * SBI General Insurance on Tuesday announced the launch of a fully customisable digital-only health product 'Health Edge Insurance'.
The policy offers a single comprehensive plan with 9 basic indemnity covers and 18 optional covers, allowing customers to design a tailor-made health insurance policy as per their requirements, SBI General said in a statement.
The policy provides multiple sum insured options ranging between Rs 3 lakh to Rs 25 lakh, with long-term policy options available for up to 3 years, it said.
The entry age to purchase the Health Edge plan is 18 years to 65 years for adults and 91 days to 30 years for children, it said.
*** Myntra's 'Vernacular Search' to enable discovery of products in multiple regional languages * Myntra has introduced a vernacular search feature, in line with its aim to make the purchase journey more inclusive and accessible for its users.
The addition of Vernacular Search to its bouquet of tech-enabled features will help Myntra penetrate deeper into the non-metro geographies, while expanding its customer base to native language speakers, according to a statement.
It has introduces 'Vernacular Search', empowering millions of users to discover products in multiple regional languages, Myntra said in a statement.
The feature will allow users to search in 10 regional languages other than Hindi, such as Telugu, Kannada, Bangla, Tamil, and Malayalam, while also supporting queries asked in 'Hinglish'.
Currently, 20 per cent of searches on the platform are non-English, the statement added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)