Excelsior Correspondent
JAMMU, Mar 22: The J&K Grameen Bank (JKGB) and the Small Industries Development Bank of India (SIDBI) have signed a Memorandum of Understanding (MoU) with an objective of boosting the rural entrepreneurship and financial inclusion.
As per a statement, the MoU signing ceremony, held at JKGB’s Head Office in Narwal, Jammu, was attended by Sanjay Gupta, Chairman of J&K Grameen Bank, among other dignitaries.
It said the MoU was signed by Anil Kumar Sharma, Deputy General Manager of SIDBI, and Zaffer Akeel Shah, General Manager of JKGB, marking a strategic collaboration aimed at enhancing financial services for Micro, Small, and Medium Enterprises (MSMEs) in the Union Territories of Jammu & Kashmir and Ladakh.
“This partnership seeks to bolster credit access for MSMEs, which are vital to the nation’s economy,” the statement said.
Leveraging SIDBI’s financial expertise and JKGB’s robust rural presence, the collaboration will empower local entrepreneurs, improve financial inclusion, and create new avenues for growth.
Sanjay Gupta, Chairman of JKGB, expressed his enthusiasm for the MoU, stating, “This agreement represents a significant milestone in our efforts to strengthen rural economies. By ensuring accessible credit and financial services, we aim to support MSMEs and foster sustainable development in J&K and Ladakh.”
Anil Kumar Sharma, DGM of SIDBI, highlighted the importance of the MoU, noting, “Our goal is to enhance the flow of credit to MSMEs and provide them with the best financial services. This partnership will help unlock the sector’s full potential, which is crucial for economic progress.”
Zaffer Akeel Shah, General Manager of JKGB, also emphasized the transformative impact the partnership will have on the rural economy.
With over 30 years of experience in supporting MSMEs, SIDBI has been a key driver of innovation and growth in the sector.
Under this MoU, both institutions will collaborate closely to build a strong MSME ecosystem by offering customized financial solutions, capacity-building programs, and strategic support.
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