SBI and Coromandel International Ltd. Join Hands for Sustainable Rural Development

State Bank of India and Coromandel International Limited (Coromandel) signed a MoU to facilitate financing the farmers who are customers of Coromandel’s Retail Stores. The MOU was signed by Smt. Manju Agarwal (Chief General Manager, SBI) and Mr. Sankarsubramanian (EVP & CFO, Coromandel International Ltd.). Dr. V Eswaran, General Manager (Agri Business, SBI) and Mr. P Varadarajan (VP - Legal, Coromandel International Ltd.) were also present on the occasion.

In terms of the MoU, the Bank would take care of the need based credit support to farmers associated with Coromandel. KCC Rupay Cards will be issued to these farmers which may be used to buy agricultural inputs through the Point of Sales machines of SBI installed in the retail stores of Coromandel. While Coromandel’s farmers would be benefitted by the financial assistance, bank will be benefitted by enhancing its credit into priority segment.