State-run Bank of Maharashtra has opened its first dedicated branch for startups in Pune.  

The dedicated branch will provide all kinds of support to a startup during its growth journey.

"India is one of the growing hubs for startups and unicorns in the world. It is imperative for us to start our own dedicated branch for startups, where we shall cater to all their needs -- right from the inception to the issuance of IPO/FPO," said Bank of Maharashtra managing director and CEO AS Rajeev during the inauguration of the branch. 

Pune is strategically important for us to venture into, considering the technological and industrial advancement of the city and the expertise the bank has, the lender said. This will begin a new vista for the bank and also for startups in Pune city and Maharashtra state, he added. 

Bank of Maharashtra executive director Asheesh Pandey said startups are entrepreneurial ventures in an early stage of business operation, which if properly nurtured, becomes an integral pillar of economic growth and employment generation while satisfying evolving needs of its clients with innovation.