CHENNAI: Indian Overseas Bank inaugurated a new, exclusive branch dedicated to startups in Chennai on Thursday.
This initiative is aimed at providing bespoke financial services and robust support to budding entrepreneurs and emerging enterprises. By addressing the unique needs of start-ups, IOB’s dedicated startup branch offers a comprehensive suite of financial products and services, making it a one-stop solution for new ventures and startups.
MD-CEO of Indian Overseas Bank, Ajay Kumar Srivastava, who inaugurated the exclusive branch, said “startups are the cornerstone of innovation and job creation in our economy. By establishing this dedicated branch, IOB aims to remove financial obstacles and empower entrepreneurs to bring their visions to fruition. This initiative represents a crucial step towards cultivating a vibrant startup ecosystem in India.”
On the inaugural day special current scheme for startup namely IOB startup current account and credit scheme IOB Pragati for financing startups were launched and 35 start-ups were onboarded.