SBI commits to finance 1000 entrepreneurs in Nagaland through partnership with Business Association

SBI commits to finance 1000 entrepreneurs in Nagaland through partnership with Business Association: The State Bank of India (SBI), in collaboration with the Business Association of Nagas (BAN), has decided to provide financial assistance to 1000 entrepreneurs. A Memorandum of Understanding (MOU) has been signed between the two parties to facilitate the ease of doing business and finance MSMEs of Naga entrepreneurs in the state.

News Highlights

• The NIIE trade fair ended on a high note, with the iconic signing of an MOU between SBI and BAN, which will bring hope and relief to the state’s genuine entrepreneurs.
• Under the terms of the agreement, the BAN will assist in the identification and preparation of MSME through project screening, documentation, and submission to SBI.
• Once the loan is approved, the association will be responsible for training on bookkeeping, GST filing, statutory compliances, and so on.
• It also stated that the BAN will closely monitor, supervise, and actively intervene to prevent any loan from becoming irregular.
• SBI and BAN will conduct quarterly performance reviews of all beneficiaries.

About SBI

• Current Chairman: Dinesh Kumar Khara
• Headquarters: Mumbai
• Taglines: “A Bank Of The Common Man,” “Pure Banking Nothing Else,” “The Banker To Every Indian,” “The Nation Banks On Us,” “With You All The Way,” and “You Can Always Bank On Us.”
• State Bank of India is the largest commercial bank in terms of assets, deposits, branches, clients, and personnel.
• It is the country’s largest mortgage lender, having helped over 30 lakh Indian families realize their dream of owning a home.