State Bank Of India

State Bank of India (SBI), the country’s largest lender and the German development bank KfW have signed a $300 million loan agreement to support rural and micro-enterprise lending in the country. With a focus on agricultural and microenterprise loans, the facility is designed to further strengthen and extend SBI’s priority sector lending activities.

The bank will be on-lending these funds to underserved sectors, thereby contributing to the generation of growth, employment and income.

The bank has posted a rise of 65.52% in its net profit at Rs 134.42 crore for the quarter ended March 31, 2015 as compared to Rs 81.21 crore for the same quarter in the previous year. Total income of the bank has increased by 11.55% at Rs 1308.04 crore for quarter under review as compared to Rs 1172.58 crore for the quarter ended March 31, 2014.