To encourage investment in the UP Defense Industrial Corridor, the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) has inked MoUs with the State Bank of India (SBI), Bank of Baroda (BOB), Punjab National Bank (PNB), and Small Industries Development Bank of India (SIDBI).
- The bank would provide financial help in the form of ease of doing business to investors in the UP Defense Industrial Corridor, according to the deal.
- UPEIDA has now collaborated with three major nationalised banks in the country, State Bank of India (SBI), Bank of Baroda (BOB), Punjab National Bank (PNB), and Small Industries Development Bank of India (SIDBI), as part of its continuous support to investors in the Corridor, according to a release.
- These are intended to assist investors interested in establishing a business in the UP Defence Industrial Corridor in obtaining financial support as part of the Ease of Doing Business initiative.
- Banks will provide these investors with tailored financial support on a case-by-case basis to assist them in establishing their businesses.
Important Takeaways For All Competitive Exams:
- State Bank of India (SBI) chairman: Dinesh Kumar Khara
- Bank of Baroda (BOB) Chairman: Hasmukh Adhia
- Punjab National bank (PNB) Chairman: Atul Kumar Goel