The State Bank of India (SBI), the country's leading bank, has entered into a strategic partnership with Shri Ram Finance Corp Ltd (SRFCL), a growing Non-Banking Financial Company (NBFC).
The partnership aims to provide co-lending solutions to the Micro, Small and Medium Enterprises (MSMEs) sector.
A MoU was exchanged between the two entities in the presence of SBI's Circle Chief General Manager Binod Kumar Mishra, General Manager NW-3 Niraj Prasad and Deputy General Manager (B&O) Rakesh Kumar Yadav with the SRFCL MD and CEO Gaurav Bhattar.
The partnership will allow SBI and SRFCL to further increase its reach to MSMEs, which is the most thrust area of the Indian economy but has historically faced challenges in obtaining financing.
