Strategic Collaborations and Launches: A Financial Sector Insight

State-owned Bank of Baroda partners with Sidbi to boost small business credit. RBL Bank introduces high-end credit cards, while Axis Bank offers a corporate salary solution for startups. American entity 'The Standard' opens a new center in Pune, with Mohua Sengupta as the country head.

In a significant move to bolster credit for micro, small, and medium enterprises, state-owned Bank of Baroda has teamed up with the Small Industries Development Bank of India (Sidbi). This partnership aims to enhance financial access, including joint finance initiatives and export promotion activities, as outlined in their new memorandum of understanding.

Meanwhile, RBL Bank, a private sector lender, has launched two premium segment credit cards with membership fees reaching up to Rs 50,000 annually. These cards, tagged 'Lumiere' and 'Nova,' offer exclusive travel benefits and 'value backs,' promising customers substantial returns on their spending.

Further diversifying financial services, Axis Bank unveiled a corporate salary solution tailored for startups. This solution is designed to support startups from their growth phase to IPO, integrating financial, lifestyle, and wellness benefits. On the international front, US-based insurance company 'The Standard' has inaugurated a Global Capability Centre in Pune, spearheaded by appointed country head, Mohua Sengupta.

(With inputs from agencies.)