SBI Chairman Advocates for Equity Support Ecosystem in Startups

SBI Chairman C S Setty has called for an ecosystem enabling banks to provide equity support to startups, which currently are limited to debt support. He also highlighted SBI's efforts in agri-loans using satellite data and the importance of a Resilience Operations Centre.

In a significant call for innovation, SBI Chairman C S Setty urged the creation of an ecosystem for equity support to startups, a step beyond the current debt offerings. Speaking at Nasscom's annual NTLF event, Setty highlighted the necessity for banks to support equity for stimulating startup growth.

Currently, banks like SBI are restricted to providing debt solutions. Setty noted SBI's proactive involvement through dedicated funds and branches catering specifically to startups, establishing a supportive banking framework in what is the third largest startup ecosystem globally.

Additionally, Setty detailed SBI's commitment to enhancing its agricultural loan sector through innovative use of satellite and diverse data sets, and announced SBI's pioneering Resilience Operations Centre. With a vast network of branches, SBI continues to expand its national service reach.