In April 2025, In a step aimed at accelerating rural economic development, the National Bank for Agriculture and Rural Development (NABARD) has partnered with a major Indian bank to finance projects in Assam. Under this agreement, the institutions will target Rs 500 crore financing in FY26, scaling to Rs 1,000 crore annually thereafter. Which bank has signed this MoU with NABARD?

The correct answer is State Bank of India. In News NABARD and State Bank of India signed an MoU to finance rural development in Assam. Key Points National Bank for Agriculture and Rural Development (NABARD) and State Bank of India (SBI) signed a Memorandum of Understanding (MoU). The MoU aims to strengthen rural development in Assam. Target financing: Rs 500 crore in FY26. Goal to scale financing to Rs 1,000 crore annually thereafter. Partnership focuses on sustainable economic growth. Seen as a step to empower rural Assam. Supports long-term economic sustainability in the region. Additional Information NABARD Established: 1982 HQ: Mumbai State Bank of India Founded: 1955 HQ: Mumbai