SME Times is powered by   
Search News
Just in:   • India in dialogue with US for bilateral trade deal: Piyush Goyal  • PM Modi takes veiled dig at Trump’s tariff policy as India’s growth surges  • States to get Rs 10 lakh crore in SGST, Rs 4.1 lakh crore via devolution despite rate rejig  • Coal production from commercial mines jumps 11.9 pc in April-Aug  • SEBI re-introduces intraday limits for index options trading from October 1 
Last updated: 25 Jul, 2016  

SBI Signs MoU with Indian Oil Corporation to Empower Farmers

NewsVoir | 25 Jul, 2016
State Bank of India, country’s largest commercial bank entered into an MoU with Indian Oil Corporation (IOC) to engage IOC’s Kisan Seva Kendras (KSK) as Business Correspondents (BCs) of SBI. The MoU is an initiative as part of the financial inclusion programme of SBI.

 

IOC has set up 6,500 KSKs in rural and remote areas which provide access to various agricultural inputs like diesel, seeds, fertilizers, pesticides etc. to the farmers. The MoU with SBI will enable KSKs to make banking facilities available in the remotest parts of the country and also supplement their income by earning revenue on banking transactions.

 

SBI is the largest financial services provider with 62,341 Customer Service Points (CSP) in India which handles over 1 million transactions per day. The initiative will help farmers to avail the facilities of various products and services by SBI CSPs viz. Savings Account, Term Deposit, Recurring Deposit, Micro Credit, Remittances, Social Security Schemes, Aadhaar Seeding through KSKs. The bank also facilitates farmers to buy agriculture inputs by using Rupay Debit Cards issued to them, thus eliminating the need to carry large amounts of cash.

 

The MoU was signed by Mr. K. M Trivedi, CGM-Rural Business, SBI and Mr. Sivasis Dey, GM - Retail Sales, IOC in the presence of Mr. Rajnish Kumar, MD - National Banking Group, SBI and Shri. D.K Sharma, ED - Retail Sales, IOC.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

tie up with ioc/ statebank
govind fatehpuria fatehpuria88@gmail.com | Mon Jul 25 12:52:43 2016
it is a very good arrangement to the rural population of india do this with the post offices gram panchayat and all similar bodies which are present over all rural india


 
  Customs Exchange Rates
Currency Import Export
US Dollar
₹84.00
₹82.25
UK Pound
₹104.65
₹108.10
Euro
₹92.50
₹89.35
Japanese Yen ₹56.10 ₹54.40
As on 25 Jul, 2025
  Daily Poll
Who do you think will benefit more from the India - UK FTA in the long run?
 Indian businesses & consumers.
 UK businesses & consumers.
 Both will gain equally.
 The impact will be negligible for both.
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter