An agreement got signed on the margins of the European Union-India leaders meeting in Portugal, where both the financial institutions agreed to back the initiative. The fund will enable Indian innovative and emerging companies to fund their growth through equity or quasi-equity instruments.
SBI already invests in a vehicle called Neev Funds for its impact investing objectives, and the two entities have created ‘Neev Fund II’ for taking ahead this partnership. This is one of the EIB’s first private equity investments in India.
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.