New Delhi: Punjab National Bank (PNB) has inaugurated its first full-fledged startup-focused branch in Delhi, marking a significant step toward strengthening financial support for the country’s growing startup ecosystem. The bank plans to expand this model to other major cities across India.
In a strategic move, PNB also signed a Memorandum of Understanding (MoU) with the Software Technology Parks of India (STPI) to enhance financial literacy, banking access, and institutional registration support for startups.
PNB’s MD and CEO Ashok Chandra said, “While startup cells already exist in various locations, this is our first comprehensive startup branch. We aim to replicate this model in key startup hubs across India.”
Chandra highlighted the crucial role STPI will play in this initiative, citing its robust ecosystem and infrastructure. “We will leverage their platform to extend financial awareness and solutions to startups,” he added.
He praised the government’s credit guarantee schemes, which allow loans of up to ₹20 crore exclusively for startups, and emphasized the need to make such support mechanisms more accessible and well-understood by entrepreneurs.
PNB is also engaging with leading academic and incubator institutions including IIT Delhi and IIIT, underlining its commitment to becoming a key financial partner for early-stage ventures. “We are ready and well-positioned to cater to startups’ financial needs,” Chandra said, adding that viable proposals can readily access funding from the bank.
STPI Director General Arvind Kumar welcomed the partnership, noting that banks have so far played a limited role in the startup landscape. “We already have investors, mentors, incubators, and accelerators. Now, with PNB’s entry, this becomes a pioneering model integrating banking into the startup ecosystem,” he stated.
On broader economic issues, when asked about the potential impact of U.S. tariffs under the Trump administration, Chandra said it is too early to assess the long-term effects. However, he expressed optimism: “India has consistently turned global crises—be it the 2008 financial crash or COVID-19—into opportunities. With strong leadership, we are well-equipped to face new challenges.”
