SBI to aid fintech startups

MUMBAI: State Bank of India has created a dedicated IT innovations and startup fund with investments worth Rs 200 crore for promising financial technology startups.

MUMBAI: State Bank of India has created a dedicated IT innovations and startup fund with investments worth Rs 200 crore for promising financial technology startups.

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The fund would extend up to Rs 3 crore for any India-registered company to promote their business in India using IT in the financial services, SBI chairman Arundhati Bhattacharya said.

SBI’s dedicated single window banking relationship support branch for start-ups, ‘In-cube’, has got over 200 clients, the SBI chief said.