NE BUSINESS BUREAU
JAIPUR, SEP 29
AU Small Finance Bank on Wednesday announced that the bank has signed a Memorandum of Understanding (MoU) with National Bank for Agriculture & Rural Development (NABARD) to boost ongoing rural developmental initiatives in the state of Rajasthan.
The MoU envisages joint initiatives for the benefit of farmers, farmer producer organisations, Self Help Groups (SHG), Joint Liability Groups (JLG), rural artisans, agri-preneurs, agri start-ups, etc., in the State.
The MOU was executed by Jaideep Srivastava, Chief General Manager- Rajasthan, NABARD and Sanjay Agarwal, MD and CEO, AU Small Finance Bank in the presence of Dr. GR Chintala, Chairman, NABARD.
On the occasion, Sanjay Agarwal, MD and CEO, AU Small Finance Bank said, “The collaboration between NABARD and AU Bank would enhance rural prosperity through the convergence of institutional lending & ongoing development initiatives. This association would further give impetus to lending in the state especially in areas pertaining to agriculture and rural development.”
Jaideep Srivastava, Chief General Manager, NABARD, said “The collaboration between NABARD and AU Small Finance Bank is a significant step towards empowering the rural segments with easy access to credit. With signing of this MoU both NABARD and AU Bank will reach greater heights in term of overall development of rural areas in Rajasthan.”
Jaipur-based AU Bank began its small finance bank operations in April 2017.
