24 April, 2016, Bangalore: Moved by the startup industry of the country, RBL Bank (formerly known as Ratnakar Bank), a private sector lender has now decided to jump in the startup pool to explore the segment to the fullest. Recently, bank has launched its exclusive branch for startup sector in Bangalore.
With this development, RBL becomes the first private sector bank to open a branch which is entirely dedicated to startup sector. The branch will offer wide range of products and services that will cater the end-to-end needs of the emerging startup sector.
The branch was inaugurated by former chairman of Unique Identification Authority of India, Nandan Nilekani. Commenting on the development, Narayan Ramchandaran, Chairman, RBL Bank said, “The branch will assist entrepreneurs in setting up new companies or enterprises and offers a host of banking products including, foreign exchange services, remittances and cash management. It would also provide a range of value-added services including registration, legal and tax formalities etc. through its affiliates and partners”
“As an established bank in a renewed startup avatar, we can empathise with the journey of our startup clients,” he quoted further.