How is the State Bank of India supporting startups?

SBI is actively investing in startup-focused funds and financial market infrastructure through direct equity participation and supporting initiatives like Startup India.

What role do startups play in MSME credit according to SBI?

Startups are seen as pivotal in accelerating MSME credit by driving innovation, fostering internet adoption, creating employment, and facilitating economic expansion.

What model does SBI use to assist peripheral areas with startups?

SBI uses a hub-and-spoke model to assist peripheral areas, ensuring compliance with priority sector lending guidelines by linking startups through partnerships.

Home / Business and Economy / SBI Fuels Startups Via Fund Investments

SBI Fuels Startups Via Fund Investments

22 Feb

•

Summary

SBI actively invests in startup funds and financial infrastructure.
Startups accelerate MSME credit through innovation and job creation.
The bank operates a hub-and-spoke model to support peripheral areas.

State Bank of India (SBI) is significantly boosting its strategy for Micro, Small, and Medium Enterprises (MSMEs) by investing in startup-focused funds and financial market infrastructure. This initiative includes direct equity participation and leveraging schemes like Startup India.

SBI's managing director, Ravi Ranjan, highlighted that startups are crucial for accelerating MSME credit. They drive innovation, foster internet adoption, create employment, and promote economic expansion through their technological advancements. The bank has established dedicated startup hubs across various cities.

To support startups and peripheral areas, SBI employs a hub-and-spoke model. This ensures priority sector lending guidelines are met by integrating startups through partnerships. The bank also prioritizes collaborations with fintech enterprises to enhance agility and resilience.

SBI maintains a strict stance on compliance, emphasizing that adherence to prudential standards, governance, and regulatory parameters is non-negotiable.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.