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State Bank of India forays into SMEs investment enterprises

Monday 18 January 2016 | 10:20 AM CET

The State Bank of India (SBI) has opened a branch, called InCube, dedicated to helping SMEs grow in the complex domestic ecommerce market.

SBI Chairman Arundhati Bhattacharya has claimed: “SBI is striving to make its structure more amenable to the requirements of startups. We want to be a part of the growth of startups and India itself. We will support entrepreneurs in their ventures..." iamwire.com cites.

Going forward, SBI is planning to establish more branches in Delhi-NCR and Pune. Through the ‘SBI InCube’, the bank will be helping, guiding and counselling entrepreneurs in starting up their ventures. The bank will provide:

  • Comprehensive financial products and services
  • Integrated online and mobile banking solutions
  • Solutions that streamline receivables and payables and optimise cash conversion cycle
  • Limited advisory on investments, taxation and forex transactions that help optimise liquidity, capital preservation and return

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