Mumbai: Bank of India (BOI) has signed a Memorandum of Understanding (MoU) with Sa-Dhan, the Reserve Bank of India-appointed self-regulatory organisation for microfinance and impact finance institutions. The partnership aims to improve access to affordable credit for small, micro, and women-led enterprises across India, with a strong focus on financial inclusion and sustainability.
- Key Focus Areas
The MoU outlines collaborative efforts in several areas, including enterprise financing for Self-Help Groups (SHGs) and non-SHG members, green financing, climate-resilient technologies, WASH (Water, Sanitation and Hygiene) initiatives, co-lending with microfinance institutions (MFIs), and digital transformation. Financial literacy and awareness-building activities will also form a core part of the initiative.
- Supporting Underserved Communities
The collaboration is structured to provide flexible, need-based financing solutions to underserved populations, particularly women entrepreneurs. The initiative will leverage digital platforms for streamlined loan disbursement, monitoring, and increased outreach. Joint efforts will also promote government schemes, social security programmes, and essential financial services to rural entrepreneurs.
- Fostering Inclusive Growth
Bank of India emphasised that the partnership with Sa-Dhan is set to empower grassroots enterprises by facilitating seamless access to credit and supporting key development goals. The bank highlighted the initiative’s focus on SHG and non-SHG beneficiaries, climate-resilient solutions, WASH financing, and digital inclusion.
Sa-Dhan officials highlighted that the collaboration represents a significant advancement in providing equitable, affordable finance in rural and semi-urban regions. It aims to strengthen enterprise financing while empowering women-led ventures through digital adoption and financial literacy.
