SBI, Nabard to collaborate in emerging areas

This MoU with NABARD will work achieve financial inclusion goals, helping rural masses and agriculturists through various developmental projects

Hyderabad: SBI and NABARD entered into an MoU for collaboration on emerging areas with an objective of enhancing rural prosperity through convergence of institutional lending and ongoing developmental initiatives.

This MoU with NABARD will work achieve financial inclusion goals, helping rural masses and agriculturists through various developmental projects and to explore opportunities in rural development by direct and indirect involvement in financing the projects designed by NABARD.

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This MoU covers schemes under infrastructure development like Agriculture Infrastructure Fund, Agricultural Marketing Infrastructure, Mission for Integrated Development of Horticulture, Joint Liability Groups (JLGs), Self Help Group (SHGs), Farmers Producer Companies (FPCs), Agri Clinic and Agri Business Centres, Financial Literacy Programmes and others.

Mishra highlighted Telangana Circle’s achievement in financing hydroponics, FPCs, JLGs and SHGs.

NABARD Chairman praised the role of SBI during the pandemic period in extending banking services to all corners of the country. He also praised the set up of Financial Inclusion and Micro Market (FIMM) vertical in SBI and expressed that this MoU will prove a milestone in promotion of agriculture and rural development in tune with Government’s Atma Nirbhar programme, release said.

Om Prakash Mishra, CGM, SBI, Hyderabad Circle and YK Rao, CGM, NABARD Hyderabad Circle signed the MoU. GR Chinatala, Chairman NABARD, Krishan Sharma, GM (FIMM) and Prafulla Kumar Jena, DGM (Sales Head) from SBI, Hyderabad Circle, were present.

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