Punjab National Bank Launches Startup-Centric Branch in Delhi

Punjab National Bank has launched its first startup-centric branch in New Delhi to support entrepreneurship under the Startup India initiative. The branch will provide comprehensive banking solutions for startups, facilitated by a signed MoU with STPI to offer financial support and connect startups with banking services.

In a significant move to bolster the startup ecosystem, Punjab National Bank (PNB) inaugurated its first branch dedicated to startups in New Delhi on Wednesday. This initiative is part of the broader Startup India campaign, aiming to nurture entrepreneurship with a suite of banking services tailored specifically for startups.

The ceremony witnessed the presence of prominent figures, including Arvind Kumar, Director General of Software Technology Parks of India (STPI), and PNB's MD & CEO, Ashok Chandra. During the event, an important Memorandum of Understanding (MoU) was signed between PNB and STPI, aimed at extending financial backing to eligible startups.

PNB General Manager Sudhir Dalal and STPI Director Subodh Sachan formalized the partnership, which seeks to enhance the startup ecosystem by bridging startups with financial institutions, offering them access to PNB's specialized schemes and financial products. Chandra highlighted the bank's commitment to supporting entrepreneurial endeavors by providing a one-stop banking solution for emerging businesses.

(With inputs from agencies.)