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SBI launches wealth management service 'SBI InCube' for start-ups

State Bank of India today started its wealth management service and inaugurated a dedicated branch for start-ups at Bengaluru. 'SBI InCube' would offer advisory services to the budding entrepreneurs under one roof.

According to SBI Chairman Arundhati Bhattacharya, the SBI InCube would not give loans at first, but give start-ups financial management services. They will be given loans when they turn more mature.

"Actually funding could be done when they become a little more mature or they have sufficient number of orders for scaling the companies. Surely, then they can become good  candidates for funding", Arundhati said.

"We still believe we will be useful to the start-ups though we are not giving them financial help, because financing is not the only thing that start-ups need. What they really need is a lot of financial management advice. So, we hope this kind of service will help them a lot", she added.

A dedicated Relationship Manager will take care of all the banking and investment needs of the customer.

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