Thursday, Mar 28 2024 | Time 15:59 Hrs(IST)
image
Business Economy


SBI signs MoU with IIT Bombay

Mumbai, Jul 12 (UNI) Largest public lender, State Bank of India (SBI) today joined hands with Society for Innovation and Entrepreneurship (SINE), IIT Bombay to promote innovation by start­ups in the financial sector.
This is the first such MoU signed by a public sector bank with a premier educational institute like IIT Bombay.
As per the MoU, both the parties will identify FinTech start­ups that have products/ applications to cater to the financial sector and can help SBI to explore opportunities to enahnce the synergy for their banking services.
SBI will provide a platform for testing/ piloting such products/ applications and maybe also check for any specific business linkages. This will definitely help the start­ups, especially ones withsocial relevance, to reach out to the larger community. Also, SBI can help in soft landing of start­ups abroad.
SBI will interact with the entrepreneurial and research community at IIT Bombay including e­cell, Desai Centre, start­ups of SINE to understand latest research, innovations and conduct knowledge sessions for mutual benefit to arrive at technological solutions. SINE will extend complete assistance and coordinate with stakeholders at IIT Bombay. This MoU will help evaluate start­ups operating out of and promoted by SINE for early stage funding within the bank’s norms. If SBI decides to infuse fund in the start­ups, SINE may help for initial screening like technical competency, product roadmap, innovation subject, impact of innovation etc.
SINE is a technology business incubator of IIT Bombay. It was set up as a non­profit entity in 2004 with functional autonomy under its own Governing Board, with Board members from IIT Bombay faculty and industry experts. The basis for incubation for start­up is the potential to create economic growth, strategic value and social value.
UNI JS NV NP1537
More News

GOCL signs MoU with Squarespace Builders

28 Mar 2024 | 12:00 AM

Hyderabad, Mar 27 (UNI) GOCL Corporation Limited (GOCL), a Hinduja Group company, on Wednesday said it has entered into a significant memorandum of understanding (MoU) with Squarespace Builders Private Limited, situated in Hyderabad, to initiate the strategic monetisation of around 264.50 acres of prime land located in Kukatpally.

see more..

CSIR-NIIST develops tech for biomedical waste disposal

27 Mar 2024 | 7:57 PM

Thiruvananthapuram, Mar 27 (UNI) In a first in the country, the CSIR-National Institute for Interdisciplinary Science and Technology (CSIR-NIIST) has developed an innovative technology for safe, sustainable and cost-effective management of biomedical waste.

see more..

Cyient partners with Deutsche Aircraft for design of rear fuselage section of D328eco

27 Mar 2024 | 7:54 PM

Hyderabad, Mar 27 (UNI) Cyient, a global Intelligent Engineering and Technology Solutions company, announced on Wednesday a strategic partnership with Deutsche Aircraft, a German original equipment manufacturer (OEM) located in Weßling, close to Munich.

see more..

Unicommerce launches AI tool UniGPT for e-commerce businesses

27 Mar 2024 | 7:22 PM

Kolkata, Mar 27 (UNI) Unicommerce, one of India’s leading e-commerce enablement SaaS platforms, has announced the launch of its pilot project, UniGPT.

see more..

Kottayam-Kochi Rubber Market rates

27 Mar 2024 | 5:42 PM

Kottayam, Mar 27 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Wednesday per quintal.

see more..
image