SBI Smile made me smile :-)

Yes, SBI Smile  made me smile. Till now I google for seed capital through Venture capitalists, Angel Investors etc. But Banks spreading their arms into VC funding is really encouraging and I hope this is not a Gimmick as other Bankers felt.


Highlights

1. Interest-free seed capital of up to Rs 10 lakh to aspiring entrepreneurs.
2. Bank will offer a five-year moratorium on paying the seed capital amount.

Worried:
Other banks are not impressed with the scheme. “This is another gimmick. The bank is flush with liquidity and hence this scheme. Otherwise how would you explain that SBI has lowered the target from 29% to 25% for the current fiscal,” said a senior official with a Mumbai-based private sector bank. 


Read the entire News Item here: I Suggest