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NABARD and SBI Ink MoU to Promote Sustainable Development in Rural Assam.

Banking & Finance | Dated: 02 Apr 2025

In March 2025, the National Bank for Agriculture and Rural Development (NABARD), headquartered in Mumbai, Maharashtra, and the State Bank of India (SBI), also based in Mumbai, signed a Memorandum of Understanding (MoU) to boost rural development in Assam.

🎯 Key Highlights:

  • - The collaboration aims to enhance rural livelihoods and strengthen the credit ecosystem through targeted financial support.
  • - The partnership between NABARD and SBI is designed to promote economic growth in rural areas by improving access to credit and supporting livelihood initiatives.
  • - Under this collaboration, NABARD and SBI have set a financing target of Rs. 500 crores for the Financial Year 2025-26 (FY26), with plans to increase it to Rs. 1,000 crores annually in the future.

💡 Other Important Facts:

  • (i) The initiative will focus on providing financial assistance to the agricultural and rural sectors, ensuring better access to credit, infrastructure, and sustainable livelihood opportunities.
  • (ii) This partnership is expected to play a crucial role in empowering rural Assam and fostering long-term economic growth.
  • (iii) NABARD also signed an MoU with Digital Bharat Nidhi (DBN), under the Department of Telecommunications (DoT), Ministry of Communications (MoC), for Digital Rural Empowerment across the country.

📚 Test Your Knowledge:

Which financial institution recently signed an MoU with SBI to promote rural development in Assam?

Correct Answer: NABARD

🚀 Quick Recap:

About SBI

  • Chairman : Challa Sreenivasulu Setty
  • Headquarter : Mumbai