AU Small Finance Bank, NABARD ink MoU for development initiatives in Raj

AU Small Finance Bank (SFB) on Wednesday said it has inked an MoU with NABARD for rural development initiatives in Rajasthan.

The MoU involves joint initiatives by AU SFB and NABARD for benefit of farmers, farmer producer organisations, self help groups (SHG), joint liability groups (JLG), rural artisans, agri-preneurs, agri start-ups among others.

The collaboration between NABARD and AU Bank would enhance rural prosperity through the convergence of institutional lending and ongoing development initiatives, the bank said. It will give impetus to lending in the state especially in areas pertaining to agriculture and rural development, it added.

Jaipur-based AU Bank began its small finance bank operations in April 2017.