Over Rs 50,000 crore worth MoUs for investments and credit were signed at the end of the second day of the Vibrant Gujarat Global Summit with State Bank of India leading the pack.
SBI signed memorandum of understanding with the Gujarat Government for extending bank credit especially in priority sector. Under the MoU country’s largest lender will give Rs 30,000 crore worth loans over two-year period, officials announced at the Summit here.
NABARD inked an MoU for rural financing worth Rs 13,000 crore while Union Bank of India entered into a pact with the state government for providing Rs 5,600 crore of bank finance across various sectors.
The aforementioned investment commitment is besides the Rs 49,000 crore investment Adani Group Chairman Gautam Adani had announced on Wednesday in expansion of capacity of three ports in the state as well as foraying into water and cement businesses over the next five years. Read More…