New Delhi, Aug 27 (HS): Public sector lender Punjab National Bank (PNB) on Wednesday inaugurated its first dedicated startup-centric branch in the national capital, pledging comprehensive banking support to fuel innovation and entrepreneurship.

The branch, aimed at providing end-to-end financial solutions for budding ventures, was launched in the presence of Arvind Kumar, Director General of Software Technology Parks of India (STPI), and Ashok Chandra, Managing Director & CEO of PNB.

Marking the occasion, PNB and STPI signed a Memorandum of Understanding (MoU) to extend financial assistance to eligible startups. The MoU was formalized by Sudhir Dalal, General Manager of PNB, and Subodh Sachan, Director of STPI.

As per the agreement, STPI will share a curated list of incubated, onboarded, or graduated startups with the bank, enabling them easier access to PNB’s startup-focused schemes and tailored financial products. This collaboration is designed to act as a bridge between new-age entrepreneurs and institutional credit support.

Reaffirming the bank’s commitment to India’s entrepreneurial ecosystem, PNB MD & CEO Ashok Chandra said, “This dedicated startup branch will serve as a comprehensive one-stop banking hub for emerging businesses. Our partnership with STPI will further accelerate financial inclusion and empower the growth of young entrepreneurs across sectors.”

The initiative underscores PNB’s endeavor to strengthen the startup ecosystem by fostering innovation, providing capital access, and creating an enabling environment for emerging ventures.

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Hindusthan Samachar / Jun Sarkar