RBL Bank Current Affairs

RBL becomes first private sector bank to open dedicated branch for startups

The RBL Bank (formerly Ratnakar Bank) became the first private sector bank in India to open dedicated branch for startups.

The dedicated branch was inaugurated at Koramangala, Bengaluru by Nandan Nilekani, noted entrepreneur and former chairman of UIDAI.

Key facts

  • The first exclusive bank branch for start-ups will offer a bouquet of banking products to service the end-to-end needs of the emerging entrepreneurial eco-system.
  • The branch will assist entrepreneurs in setting up new enterprises or companies.
  • It will offer them host of banking products including, foreign exchange services, remittances and cash management.
  • The Branch will also provide a range of value added services including legal and tax formalities, registration etc. through its affiliates and partners.

About RBL Bank

  • The RBL Bank is a scheduled commercial bank headquartered in the Kolhapur, Maharashtra.
  • Founded in August 1943, RBL is one of the oldest private sector banks in India.
  • The Bank currently services approximately 1 million customers and has a total business size of over 20,000 Crore rupees.

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