A Memorandum of Understanding (MoU) was signed between National Bank For Agriculture and Rural Development (NABARD), and State Bank of India forging strategic partnership for sustainable growth of rural.
The ceremony was attended by key officials, including Loken Das, CGM, NABARD Assam Regional Office, S Radhakrishnan, CGM, SBI Guwahati Circle.
Loken Das emphasized NABARD’s role in promoting agriculture and rural development, focusing on financing public infrastructure, rural livelihoods, and improving the credit ecosystem.
He highlighted the need for capacity-building efforts to enable farmers and artisans to start and sustain enterprises through bank financing. However, he expressed concern about poor skill sets, leading to difficulties in sustaining activities and repaying loans. The partnership between NABARD and SBI aims to bridge this gap, ensuring the creation of a sustainable rural economy in Assam.
S Radhakrishnan lauded the partnership, thanking CGM NABARD for his efforts in uplifting rural communities.
He proposed that the collaboration should aim to finance a minimum of Rs. 500 crores in FY 2025-26, with an eventual target of Rs. 1,000 crores annually from the second year onwards.
Radhakrishnan also emphasized the importance of clarity and regular reviews to ensure progress and effective implementation. He encouraged involving Regional Offices of both the banks and NABARD District Development Managers (DDMs) to ensure successful collaboration at the grassroots level, with hopes that other banks would follow suit.
The MoU focuses on promoting agriculture and rural development in Assam, aiming to improve rural prosperity through institutional lending and development initiatives. It targets various stakeholders, including farmers, rural artisans, MSMEs, and others, fostering sustainable growth in the state.
The ceremony was attended by key officials, including Loken Das, CGM, NABARD Assam Regional Office, S Radhakrishnan, CGM, SBI Guwahati Circle.
Loken Das emphasized NABARD’s role in promoting agriculture and rural development, focusing on financing public infrastructure, rural livelihoods, and improving the credit ecosystem.
He highlighted the need for capacity-building efforts to enable farmers and artisans to start and sustain enterprises through bank financing. However, he expressed concern about poor skill sets, leading to difficulties in sustaining activities and repaying loans. The partnership between NABARD and SBI aims to bridge this gap, ensuring the creation of a sustainable rural economy in Assam.
S Radhakrishnan lauded the partnership, thanking CGM NABARD for his efforts in uplifting rural communities.
He proposed that the collaboration should aim to finance a minimum of Rs. 500 crores in FY 2025-26, with an eventual target of Rs. 1,000 crores annually from the second year onwards.
Radhakrishnan also emphasized the importance of clarity and regular reviews to ensure progress and effective implementation. He encouraged involving Regional Offices of both the banks and NABARD District Development Managers (DDMs) to ensure successful collaboration at the grassroots level, with hopes that other banks would follow suit.
The MoU focuses on promoting agriculture and rural development in Assam, aiming to improve rural prosperity through institutional lending and development initiatives. It targets various stakeholders, including farmers, rural artisans, MSMEs, and others, fostering sustainable growth in the state.
