State Bank of India’s (SBI’s) branches catering to the start-up ecosystem in the country are showing good inflow of deposits in the last two months.
SBI Chairman Dinesh Khara told Business Standard that the bank was witnessing good traction in terms of flow of deposits for the Bengaluru branch.
“Similarly, Gurugram and Chennai branches, which are relatively new, are also seeing a fair amount of deposit accretion in the past 1-2 months,” he said.
These branches essentially offer banking services such as channelising the flow of money and maintaining bank accounts, along with forex conversion, and custodial services. He said credit was just one component, which is extended from these branches.
The country’s largest lender, however, did not dwell on the amount of loans given to start-ups.
