New Delhi: State Bank of India (SBI) has set up a Centre of Excellence (CoE) for MSMEs at the State Bank Academy (SBA), Gurugram.
The centre has been established with an objective of strengthening the MSME ecosystem through capacity building, research, and industry collaboration, thereby contributing to India's vision of becoming a developed nation, SBI said in a statement on Thursday.
The centre was inaugurated by Financial Services Secretary M Nagaraju and SBI chairman C S Setty, it said.
SBA is an institute imparting specialised training in Credit, International Banking, Risk & Compliance and carrying out Research & Development in various spheres of banking, it said.
Speaking on the occasion, Nagaraju said, "MSMEs are the true engines of growth, creating widespread employment and driving prosperity in rural India, which is critical for our journey towards becoming a developed nation.
"My expectation is that the CoE will engage in making case studies and undertaking research, creating a rich repository of knowledge and sharing it online for the benefit of all, especially those in remote areas. Continuous innovation and deep engagement with entrepreneurs, fintechs, and startups will be the key to its success," he said.
As the largest lender to MSMEs, with the widest network of SME branches, SBI is responsible for building capacity and the Centre of Excellence will serve as a hub of ideas and innovation, supporting the development of new SME-focused products and processes that can benefit the entire banking sector, Setty said.
The CoE has been designed with an inclusive approach, engaging with MSME promoters, startups, industry associations, academia, government, regulators, and banking professionals. This collaborative model will ensure that the centre's initiatives remain relevant, impactful, and aligned with the needs of the sector.
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