Bank of India (BOI) has signed a Memorandum of Understanding (MoU) with Sa-Dhan, the Reserve Bank of India-appointed self-regulatory organisation for microfinance and impact finance institutions, to enhance access to credit for small, micro, and women-led enterprises across the country.
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The non-commercial MoU outlines key collaborative areas including enterprise finance for Self-Help Groups (SHGs) and non-SHG members, green financing and climate-resilient technologies, WASH (Water, Sanitation and Hygiene) financing, co-lending to microfinance institutions (MFIs), digital transformation, and financial literacy initiatives. The partnership aims to drive both National Financial Inclusion and Sustainable Development Goals (SDGs).
The collaboration is designed to offer affordable and flexible financing solutions to underserved communities, particularly women entrepreneurs, with support through digital platforms for loan disbursement and monitoring. BOI and Sa-Dhan will also jointly promote awareness of government schemes, social security programmes, and financial services among rural entrepreneurs.
Mr. P.R. Rajagopal, Executive Director of Bank of India, stated, “Our partnership with Sa-Dhan will empower small, micro, and women-led enterprises by enabling seamless access to finance and supporting key financial inclusion and sustainability objectives. This initiative will benefit SHG and non-SHG members alike, promote climate-resilient technologies, and expand WASH and digital literacy efforts.”
Mr. Jiji Mammen, Executive Director and CEO of Sa-Dhan, added, “This collaboration marks a major stride toward equitable and affordable finance for enterprises, especially in rural and semi-urban regions. By combining digital adoption with financial literacy, we aim to strengthen enterprise financing and empower women-led businesses for inclusive development.”
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