Bank of Baroda, India's leading public sector bank, recently launched a new initiative called "Start-up Banking" to connect with start-up firms across the country. The launch of this initiative was marked by a simultaneous launch across 15 cities in India and was officially inaugurated by Finance Secretary Rajiv Kumar.
The main objective of the Start-up Banking initiative is to provide customized financial products and services to the growing start-up community in India. The initiative aims to connect with at least 2,000 start-ups and offer a range of products that are tailored to their specific needs. These products include corporate credit cards and efficient payment gateways, which will help start-ups manage their finances and transactions more efficiently.
In addition to offering these financial products, Bank of Baroda is also committed to providing non-financial support to start-ups through mentorship and networking opportunities. The bank has created a dedicated team of experts who are trained to understand the unique needs of startups and provide them with the support and guidance they need to grow and succeed.
The launch of the Start-up Banking initiative by Bank of Baroda marks a significant step forward for the growth and development of the Indian start-up ecosystem. With the support of the country's leading public sector bank, start-ups will have access to the financial and non-financial resources they need to succeed and make a positive impact on the Indian economy.
History of Bank of Baroda
Bank of Baroda (BOB) is a leading public sector bank in India that has its headquarters located in Vadodara, Gujarat. With over 132 million customers and a total business of $218 billion, BOB is the second largest public sector bank in India after the State Bank of India. The bank has a global presence with 100 overseas offices and is ranked 1145 on the Forbes Global 2000 list based on 2019 data.
Founded on July 20, 1908, by the Maharaja of Baroda, Sayajirao Gaekwad III, Bank of Baroda has its roots in the princely state of Baroda, Gujarat. On July 19, 1969, the Government of India nationalized Bank of Baroda along with 13 other major commercial banks in India, and the bank was transformed into a profit-making public sector undertaking (PSU). Today, Bank of Baroda continues to play a significant role in the growth and development of the Indian banking sector, providing a range of financial products and services to its customers.
