Central Bank of India has signed a memorandum of understanding (MoU) with NABFOUNDATION, a subsidiary of NABARD to provide funds to self-help groups (SHGs) for setting up sanitary napkin manufacturing units.
Under the MoU, Central Bank of India will provide working capital to all the SHGs which have an account with it to undertake this project. The funds will be provided collateral free and at a cheaper rate. The project would see NABARD providing a total support of nearly Rs 50 crore over a period of next three years. The initiative will be carried out in a phased manner to cover 700 districts in the country.
Central Bank of India is a commercial bank. The bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business.
