Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

SBI Signs MOU With KDEM for Special Financial Services

- Advertisement -

The Karnataka Digital Economy Mission (KDEM) has partnered with India’s largest public-sector banking conglomerate, the SBI to support the start-up ecosystem of Karnataka. KDEM and SBI exchanged a Memorandum of Understanding (MoU) wherein SBI will be now partnering with the Fintech Innovation hub at Mangaluru and leveraging the CGTSME scheme to provide funding support to the start-ups in the state. The MOU is a first of its kind step for start-ups by any banking institution.

Exchanged in the presence of Dr Ashwathnarayan C N, Hon’ble Minister, Dept of Electronics, IT BT S&T, and Shri Rana Ashutosh Kumar Singh, Deputy Managing Director (Transaction Banking & New Initiatives), SBI & Shri Nand Kishore, Chief General Manager (Bengaluru Circle), SBI. The MoU was signed by Mr Sanjeev Gupta, CEO, KDEM, and Shri S. Radhakrishnan, General Manager, NW-I, SBI, Bengaluru Circle.

Congratulating KDEM and SBI on the MoU, Dr Ashwathnarayan C N, Hon’ble Minister, Dept of Electronics, IT BT S&T said, “Karnataka has already established itself as a leading state in the nation with a favourable start-up ecosystem supported by a robust policy framework and infrastructure. I am pleased that a huge public sector conglomerate such as SBI values the importance of building an enriching environment, that will elevate the state and the nation’s digital economy. I congratulate Mr Sanjeev Gupta and Shri Rana Ashutosh Kumar Singh for the signing of the MOU and for their support of the innovation hub in Mangaluru.”

- Advertisement -

Commenting on the MoU Exchange, Shri Rana Ashutosh Kumar Singh, Deputy Managing Director (Transaction Banking & New Initiatives), SBI said, “It is a great pleasure for us at SBI to partner with organisations such as the Karnataka Digital Economy Mission and the Government of Karnataka that is striving to build a world-class innovation hub and a robust start-up ecosystem that will inspire the nation. We believe that this is a fitting partnership as we can converge our financial acumen with KDEM’s platform and reach that will together become a gamechanger for the industry.”

Speaking at the MoU exchange, Shri B V Naidu, Chairman, KDEM said, “KDEM has always strived to be an enabler of change and innovation in Karnataka’s start-up journey. This MOU will add another flavour of comprehensive financial services available to start-ups. SBI has shown keen interest in the opening of the start-up branches in the emerging tech clusters like Mangaluru, Mysuru, and Hubballi in the next 3-6 months. I am happy that SBI has shown keen interest in participating in our cluster seed funds which is the first of its kind in India.”

Commenting on this partnership, Dr E V Ramana Reddy, ACS, Dept of Electronics, IT BT S&T, said, “This is a significant moment for SBI and KDEM, coming up with a unique platform that empowers the innovation ecosystem of Karnataka for the financial services. SBI will also be supporting the fintech task group and be an important partner in executing the strategies for making Karnataka the world’s leading fintech hub.”

Mr Sanjeev Gupta, CEO, KDEM while signing the MOU said, “Now that we have SBI, India’s largest public-sector bank supporting Karnataka’s start-up ecosystem, I am confident that Karnataka will be the Fintech hub of the world and also aspire to be the top 5 start-up ecosystem of the world. SBI providing dedicated financial services for start-ups will now create a growth to the start-up ecosystem in beyond Bengaluru clusters as well.”


 

- Advertisement -

Most Popular Articles

Nishchay Pandey
Nishchay Pandey
Bioengineer with a knack for writing, I love IoT, Open-source and creativity.

Greaves Cotton Targets ₹15,000 Crore Revenue By 2030

0
Chairman Karan Thapar emphasised Greaves' evolution into a complete mobility solutions provider featuring a strong, varied growth model. Greaves Cotton Ltd. (GCL) has evolved from...

TSMC Grows EUV Share To 56%, Outpaces Rivals

0
Powering ahead, TSMC is dominating EUV market with 56% share reportedly. While it solidifies its lead in semiconductor technology, Samsung Foundry looks to compete...

Bangladesh Unlocking Its $1B Semiconductor Export Potential?

0
Speaking on workforce development, policy support, and global partnerships at a US meeting, the Bangladesh Semiconductor Industry Association has ambitious goals. The Bangladesh Semiconductor...

Vajram Electric Aims To Expand Manufacturing And Global Presence

0
Vajram Electric Ltd is securing financing to enhance its manufacturing plant, increase production, and establish itself as a major supplier of international electric vehicle...

India, Kazakhstan Forge Stronger Ties In Electronics

0
Eyeing tech partnerships and new opportunities, India-Kazakhstan business ties soar at the AIFC conference. Can this be a gateway for Indian electronics firms into...
John W. Mitchell, President and CEO, IPC

“India’s Core Focus On 5G, IoT, AI Fosters Need For Advanced Electronics,Components, And Semiconductors”...

0
Will Industry 4.0 supercharge India’s progress in semiconductor and electronics manufacturing? IPC President and CEO John W. Mitchell shared more strategies on the country’s...
Raman M., Co-Founder and CEO, chargeMOD

“Our Goal Is To Achieve Complete Sustainability By 2025-2026” – Raman M. Of chargeMOD

0
In a conversation with Nitisha Dubey from EFY, Raman M. of chargeMOD, elaborated his goal of developing virtual power plants by decentralising power production. Q....

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Greaves Cotton Targets ₹15,000 Crore Revenue By 2030

0
Chairman Karan Thapar emphasised Greaves' evolution into a complete mobility solutions provider featuring a strong, varied growth model. Greaves Cotton Ltd. (GCL) has evolved from...

TSMC Grows EUV Share To 56%, Outpaces Rivals

0
Powering ahead, TSMC is dominating EUV market with 56% share reportedly. While it solidifies its lead in semiconductor technology, Samsung Foundry looks to compete...

Bangladesh Unlocking Its $1B Semiconductor Export Potential?

0
Speaking on workforce development, policy support, and global partnerships at a US meeting, the Bangladesh Semiconductor Industry Association has ambitious goals. The Bangladesh Semiconductor...

Vajram Electric Aims To Expand Manufacturing And Global Presence

0
Vajram Electric Ltd is securing financing to enhance its manufacturing plant, increase production, and establish itself as a major supplier of international electric vehicle...

India, Kazakhstan Forge Stronger Ties In Electronics

0
Eyeing tech partnerships and new opportunities, India-Kazakhstan business ties soar at the AIFC conference. Can this be a gateway for Indian electronics firms into...

Learn From Leaders

John W. Mitchell, President and CEO, IPC

“India’s Core Focus On 5G, IoT, AI Fosters Need For Advanced Electronics,Components, And Semiconductors”...

0
Will Industry 4.0 supercharge India’s progress in semiconductor and electronics manufacturing? IPC President and CEO John W. Mitchell shared more strategies on the country’s...
Raman M., Co-Founder and CEO, chargeMOD

“Our Goal Is To Achieve Complete Sustainability By 2025-2026” – Raman M. Of chargeMOD

0
In a conversation with Nitisha Dubey from EFY, Raman M. of chargeMOD, elaborated his goal of developing virtual power plants by decentralising power production. Q....

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...

Startups

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...