SBI signs MoU with Indian Oil Corporation to empower farmers

State Bank of India, country largest commercial bank entered into an MoU with Indian Oil Corporation (IOC) to engage IOC 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.