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Bank of Baroda signs MoU with Software Technology Parks of India to support startups across India

MUMBAI: Financial institution of Baroda, one of many nation’s largest public sector banks, has tied up with Software program Know-how Parks of India (STPI) and AIC STPINEXT initiative to help startups throughout India underneath its Baroda Startup Banking programme. Memorandum of Understanding (MOU) was signed.

Below this programme, 15 devoted startup branches are functioning in main startup hubs. Gurugram, Delhi, Noida, Bengaluru, Chennai, Mumbai, Jaipur, Ahmedabad, Pune, Hyderabad, Chandigarh, Lucknow, Kolkata, Indore and Kochi.

The foremost choices underneath Baroda Startup Banking are as follows:

– Devoted and educated financial institution executives like startup champs and relationship managers who will probably be a single contact level

– Bouquet of tailor-made banking merchandise specifically designed for startups

– Vary of providers offered at preferential charges by marquee service suppliers within the areas of Cloud Computation, Co-working House, Taxation, Accounting, Authorized and many others.

Talking on the MoU, Mr. Akhil Handa, Chief Digital Officer, Financial institution of Baroda, mentioned, “2020 is the last decade of startups and as a number one monetary establishment, we’re continually working in direction of designing progressive banking services and products, that are distinctive and distinctive to startups. Meet particular banking necessities. This has additional fueled our partnership with STPI and STPINEXT, which has emerged as a one-of-a-kind promoter for progressive startups throughout India. By this partnership, collectively we are going to promote the expansion of the startup ecosystem in India.


(Chitra Suresh)

Assistant Basic Supervisor

(PR & Corp. Com.)

About Financial institution of Baroda:

Financial institution of Baroda established on 20 July 1908 ("the bank") is a state-owned banking and monetary providers group headquartered in Vadodara (previously generally known as Baroda) in Gujarat, India.

Financial institution of Baroda is India’s main Public Sector Financial institution with a robust home presence backed by self-service channels. The Financial institution’s distribution community contains 8,300+ branches, 11,600+ ATMs, money recyclers supported by self-service channels and over 23,000 enterprise representatives. The Financial institution has a big worldwide presence with a community of 96 branches/subsidiary workplaces unfold throughout 19 international locations. The financial institution has wholly owned subsidiaries together with BOB Monetary Options Restricted (erstwhile BOB Playing cards Restricted), BOB Capital Markets and Baroda Asset Administration India Restricted. Financial institution of Baroda additionally has joint ventures for all times insurance coverage. IndiaFirst Life Insurance Firm Restricted and India Infradate Restricted are engaged in infrastructure financing. The financial institution holds 98.57 % stake in Nainital Financial institution. The financial institution has additionally sponsored three regional rural banks specifically Baroda Uttar Pradesh Gramin Financial institution, Baroda Rajasthan Gramin Financial institution and Baroda Gujarat Gramin Financial institution.

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