breaking news Bank Of Baroda launches an alternative gateway for start-ups at Gift Ifsc

Bank of Baroda was one of the first entrants to settle in GIFT City.

According to the bank, its IFSC banking unit provides startups with a range of global banking solutions, such as foreign currency checking and savings accounts; Fixed deposit in foreign currency; external commercial loan loans; trade finance facilities; Foreign Currency Loans/Syndicated Loans and Transaction Based Internet Banking.

The Bank also offers loans against deposits NRE/FCNR and loans against deposits at the IBU.

BoB’s IFSC banking unit in GIFT City is the first and only bank to provide transaction-based internet banking services to its retail and corporate customers, including startups, in three major foreign currencies, namely the dollar American, Euro and British Pound.

The facility provides startups with 24/7 access to their accounts, as well as the convenience and flexibility to easily bank and transfer funds securely.

In addition, the Bank has launched “bob World Startup”, a special program to meet the needs of Indian start-ups.

The Bank has set up 16 dedicated startup branches in major startup hubs across the country including Gurugram, Delhi, Noida, Bengaluru, Chennai, Mumbai, Jaipur, Ahmedabad, Pune, Hyderabad, Chandigarh, Lucknow, Kolkata, Indore, Kochi and Rajkot. It will provide personalized services through exclusive relationship managers.

Under the program, startups will be able to choose from a wide range of

products and services, including personalized starter checking accounts, foreign exchange services, state-of-the-art payment gateways, point-of-sale systems, cash management systems, corporate credit cards and business loans. businesses.

The Bank has also partnered with renowned service providers to provide non-banking services required by start-ups such as cloud services, accounting and legal services, HR and payroll services, marketing services and mentorship, the bank said.