SBI inks MoU with IIT Bombay to promote startups in financial sector

The State Bank of India (SBI) has signed a memorandum of understanding (MoU) with the Society for Innovation and Entrepreneurship (SINE) at IIT Bombay to promote innovation by start-ups in the financial sector.

The SINE is IIT Bombay’s technology business incubator to promote innovation by startups in the financial sector.

Under this agreement

  • SBI andboth the institutes will identify fintech (financial technology) start-ups that have products or applications to cater to the financial sector.
  • These products or applications will identified by SBI and institutes to explore opportunities to enhance the synergy for their banking services
  • SBI will provide a platform for testing or piloting such products and applications and maybe also check for any specific business linkages.
  • SBI will also interact with the entrepreneurial and research community of SINE to understand latest innovations and conduct knowledge sessions for mutual benefit to arrive.

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Categories: Business & Economy Current Affairs 2017

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