3 public sector banks sign MoU’s for over Rs 65000 crore credit flow in Gujarat

Gandhinagar: Three public sector banks today singed as many MoU’s regarding combined loan and credit flow to Gujarat to the tune of over 65000 crores.
Among these State Bank of India (SBI) and National Bank for Agriculture and Rural Development (NABARD) have singed MoU’s for finances to the tune of Rs 30000 crores each.
The MoU’s in this regard was singed during the 8 th Vibrant Gujarat Global Summit in presence of Union Minister of State for Finance Arjun Ram Meghwal, RBI governor Urjit Patel and Deputy Chief Minister cum Finance Minister of Gujarat Nitin Patel.

SBI will be ensuring a credit flow of Rs 30000 crores in the state in next 2 years of which 12000 crores will be for priority sector while remaining 18000 crores will be for non-priority sector.

NABARD on the other hand singed the agreement to the tune of Rs 30000 crores for the rural financial sector in the state.

The third MoU was singed by Union Bank of India which will ensure bank finance of Rs 5600 crores to various financial sectors in the state.

DeshGujarat