SBI's Strategic Investment in Startups Spurs MSME Growth

State Bank of India is focusing on investing in startup-focused funds and financial infrastructure to boost MSME growth. Under its MSME strategy, SBI supports startups with equity participation, innovation, and partnerships, advancing economic expansion and adhering to regulatory guidelines.

The State Bank of India (SBI) is making strategic investments in startup-focused funds and financial infrastructure to bolster its MSME strategy, according to a senior official's announcement on Saturday.

Speaking at the 'India by MSME' event organized by UGRO Capital in Mumbai, SBI Managing Director Ravi Ranjan highlighted how startups are a catalyst for innovation and economic growth, particularly in the MSME sector. He detailed the bank's efforts to support these businesses through equity participation and collaborative initiatives like Startup India.

Ranjan further elaborated on SBI's new startup hubs and commitment to fostering partnerships with fintech enterprises, which are crucial for agility, resilience, and economic expansion. Additionally, he assured that compliance with regulatory standards remains paramount in the bank's governance strategy.

(With inputs from agencies.)