Gurugram: State Bank of India (SBI) has inaugurated its Centre of Excellence (CoE) for Micro, Small and Medium Enterprises (MSMEs) at the State Bank Academy (SBA) in Gurugram.Â
The initiative aims to strengthen the MSME sector through capacity building, research, and industry collaboration, in line with India’s vision of becoming a developed economy.
Emphasis on MSME growth
The inauguration was attended by senior leaders, including M. Nagaraju, Secretary of the Department of Financial Services (DFS), along with SBI Chairman C.S. Setty, Managing Director Vinay M. Tonse, and other top executives.
Speaking at the event, the DFS Secretary highlighted the critical role of MSMEs as engines of employment and prosperity, particularly in rural India. He urged the Centre to set benchmarks against the best MSME institutions in the country and focus on building a comprehensive knowledge base accessible even to remote areas.
Driving innovation and collaboration
The new center will engage MSME promoters, startups, industry associations, academia, regulators, and banking professionals through a collaborative model. Its focus will include research, case studies, and knowledge-sharing, while also encouraging continuous innovation in partnership with entrepreneurs, fintechs, and startups.
By aligning with the evolving needs of the MSME sector, the Centre of Excellence aims to serve as a catalyst for growth, driving employment, innovation, and financial inclusion across the country.
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