Context:
NABARD and SBI have entered a strategic partnership to promote sustainable rural development in Assam, focusing on institutional lending, credit ecosystem strengthening, and livelihood enhancement.
Key Financial Commitments:
- Initial financing of ₹500 crores for FY 2025-26.
- Target of ₹1,000 crores annually from the second year onward.
Key Focus Areas:
- Agriculture and Rural Development: Financing for farmers, rural artisans, and MSMEs.
- Public Infrastructure: Strengthening credit accessibility and rural economic activities.
- Capacity Building: Training rural communities to ensure sustainable enterprises and loan repayment.
Stakeholder Perspectives:
- NABARD (Loken Das, CGM): Emphasized skill-building and credit ecosystem development.
- SBI (S Radhakrishnan, CGM, Guwahati Circle): Stressed clear objectives and regular reviews for effective implementation, encouraging similar initiatives by other banks.
This MoU aims to drive rural prosperity by ensuring accessible and structured financing for key economic sectors in Assam.
