CURRENT AFFAIRS

Detailed explanation-1: -State Bank of India, while inaugurating the ‘SBI Start-Up Branch’ at Koramangala, said the facility comes under a pact between the Karnataka government and SBI to further boost the state’s startup ecosystem.

Detailed explanation-2: -State Bank of India (SBI) on Tuesday announced the launch of its first “state-of-the-art” dedicated branch for start-ups in the country here, to facilitate and support them.

Detailed explanation-3: -RBL became the first private sector bank in India to open dedicated branch for startups. The dedicated branch was inaugurated at Koramangala, Bengaluru by Nandan Nilekani, noted entrepreneur and former chairman of UIDAI. Q. Which bank recently launched ‘SmartUp’, a dedicated banking solution for startups?

Detailed explanation-4: -UPSC Mains Which Indian bank has opened India’s first dedicated branch for start-ups? Notes: State Bank of India has opened India’s first dedicated branch for start-ups.

Detailed explanation-5: -The branch in Koramangala would provide investment banking, treasury operations, advisory other ancillary financial services through its subsidiaries as well as managing the liabilities of startups.