RBL Bank launches branch for startups

Private sector lender RBL Bank today launched an exclusive branch for startups.

RBL will be the first private sector Bank to open a specialised branch for startups, offering a bouquet of banking products to service the end-to-end needs of the emerging entrepreneurial ecosystem.

The branch was inaugurated by former chairman of Unique Identification Authority of India Nandan Nilekani.

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, RBL Bank Chairman Narayan Ramachandran said in a statement here.

It would also provide a range of value-added services including registration, legal and tax formalities etc. through its affiliates and partners, he said.

"As an established bank in a renewed startup avatar, we can empathise with the journey of our startup clients," he added.