State Bank of India development loan

completed

When it comes to the financial inclusion of the rural and poor population in the formal financial sector, India has a lot of catching up to do compared to other developing and emerging countries. Government-led initiatives alone cannot adequately ensure the provision of formal financial services for the entire population. MFIs and Indian banks therefore play a key role. The Indian State Bank of India will be provided with a long-term FC development loan to refinance its lending business in the areas of agriculture and microfinance (financial inclusion). The SBI is predestined as a partner due to its extensive branch network and presence in the rural, underserved regions of India, as it has direct access to the target group. The SBI is particularly distinguished by its presence in the economically less developed states of India. The bank therefore also acts as a financial intermediary for government programs and thus contributes to the provision of financial services in the underserved areas and above all for the rural and poor population.