SBI launches Rs 200 crore fund to invest in fintech startups – Feedback

In order to fund start-ups in the financial technology (fintech) space, country’s largest lender SBI has set up a Rs 200 crore fund.

“This fund shall consider assistance of up to Rs 3 crore to an Indian registered company for promoting their business innovations using IT in India for banking and related technology,” SBI Chairman Arundhati Bhattacharya said at a CII event on Thursday. The ‘IT Innovation Start-up Fund’ will have corpus of Rs 200 crore, she said. With digital technology making greater in-roads into banking, majority of financial institutions have upped their engagement to spot startups in the fintech space.

http://www.businesstoday.in/sectors/banks/sbi-launches-rs-200-cr-fund-to-invest-in-fintech-startups/story/233868.html

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