Itanagar, Dec 19 (PTI) Arunachal State Rural Livelihoods Mission (ArSRLM) on Tuesday signed a memorandum of understanding (MoU) with the State Bank of India for banking services to self-help groups in the state.

Rural Development and Panchayati Raj secretary Amarnath Talwade and SBI Dibrugarh deputy general manager Aftab Ahmad Mallick represented the ArSRLM and SBI respectively in the MoU signing ceremony.

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The MoU has been signed to expedite the SHG bank linkage on savings, credit, insurance and remittances for 12,000 self-help groups promoted under the Deendayal Antyodaya Yojana National Rural Livelihood Mission (DAY-NRLM) in the northeastern state.

Talwade said that approximately 12,000 SHGs, 821 primary level federations (PLFs) and 28 cluster level federations (CLFs) will be benefited through this MoU by availing the credit linkage and accessing all the major financial products and services of the bank through the largest banking network of the country.

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Mallick said SBI will extend all support for facilitating the SHGs and its higher federation's credit requirement along with the basic banking products.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)