Bank of Maharashtra establishes its first branch specifically for new businesses in Pune
By Team Startupcity | Saturday, 01 April 2023, 09:08 IST
The state-owned Bank of Maharashtra (BoM) announced the opening of its first branch in Pune specifically for startups. The dedicated department will offer a business various forms of help throughout its growth process, according to a statement from BoM.
AS Rajeev, the MD and CEO of BoM, remarked during the ceremony: "One of the world's fastest-growing hotspots for startups and unicorns is India. It is essential that we establish a separate branch specifically for startups, where we will meet all of their demands from the time of its founding until the IPO or FPO is issued ". Pune is strategically significant for us to enter given the city's progress in technology and industry and the bank's experience, the lender claimed.
This will open up new opportunities for the bank as well as for startups in Pune and Maharashtra. BoM ED Asheesh Pandey said startups are entrepreneurial initiatives in an early stage of business operation that, if properly nurtured, become a vital pillar of economic growth and the creation of jobs while addressing the changing demands of their clients through innovation.
The nation is home to a large number of startups that have made their names abroad and enhanced the prestige of the country's development. India has the largest talent pool in the world, and the country is driven by the vitality of its young people.
"The ideal place to invest is in startups and young energy since the Amrit Kaal, which is being led by Atmanirbharta, is upon us. A thriving startup ecosystem serves as a road map for realising Atmanirbhar Bharat in its entirety "added Pandey. BoM and SIDBI venture capital agreed to cooperate in the financing of startups during the event.
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