The Gujarat government has signed Memorandum of Understanding (MoU) with State Bank of India (SBI) to facilitate approval of loans to entrepreneurs in the MSME sector with ease and within a short time-frame. As per the MoU, the bank will provide working capital to entrepreneurs seeking to start new micro, small and medium enterprises (MSME) within a short time -frame after providing theoretical approval within 15 days of making an application.
The bank decided to help MSME entrepreneurs in Gujarat looking at their high recovery rate.
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
