SBI floated INR 200 crore rupee innovation start up fund

Q.  SBI on 16th June 2016 floated INR 200 crore rupee start up find to assist startups in which space?
- Published on 20 Jun 16

a. IT
b. Fintech
c. Social media
d. None of the above

ANSWER: Fintech
 
SBI on 16th June 2016 floated a 200 crore rupee fund for startups in the fintech space. Fund will consider assistance of INR 3 crore rupees to a firm registered for promoting business innovation using technology in financial services
  • Traditional banks around the world are working with fintech firms to promote business innovations using technology in financial services
  • Suitable regulatory framework will also be set up to address the associated risks like cyber security risk, data theft risk and technology risk.

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