The first such branch was opened by the bank today at Koramangala in Bengaluru, home to several budding start-ups.
The dedicated branch will assist entrepreneurs in setting up new companies and offer banking services like foreign exchange, remittances and cash management.
The Branch will also provide a range of value added services including registration, legal and tax formalities through its affiliates and partners.
“This is not merely a branch where a startup entrepreneur will walk up and ask for a current account or a remittance; there will be all that and much more,” Rajeev Ahuja, Head – Strategy, RBL Bank said in a statement.
The bank expects to capitalize on Application Program Interface banking, large volume electronic payments and receivables, prepaid cards-based solutions and escrow services.
The newly introduced Universal Payment Interface, Aadhaar Enabled Payment System and Direct Money Transfers are also expected to generate conversations among start-up clientele.
Source: The Economic Times
Image Courtesy: The Hindu Business Line