Bangalore, March 30, 2023: Godrej Group, through its financial services arm, Godrej Capital and State Bank of India (SBI) today signed a strategic MOU to deepen their partnership wherein State Bank of India would provide various financial products and offerings.
For decades, both SBI, its group companies, and the Godrej Group have played an important role in the growth of our country’s economy. With this partnership, they hope to continue their contributions to building the nation.
Speaking on the development, Pirojsha Godrej, Chairperson of Godrej Capital, said, “This partnership is a big step forward in making financial solutions more accessible and affordable. Together, we aim to unlock opportunities for financial inclusion and build a long-term, sustainable franchise, helping drive India’s growth story forward.”
Dinesh Khara, Chairman of SBI, speaking on the announcement, said, “We are happy to embark on this exciting partnership with Godrej Capital. We aim to capitalize on synergies that will empower our customers and accelerate the growth of our economy. In addition, we will focus on delivering financial solutions to the Godrej group.”
This association leverages the strengths of both groups by facilitating a gamut of financial services provided by the Bank, including, and not limited to, banking products, credit cards, wealth management, Life Insurance, and General Insurance as preferred partners.
Manish Shah, MD and CEO of Godrej Capital added, “We are excited about this partnership between two of the most reputed brands in the country. Financial services have always been the leading indicators of growth of the economy, and the two groups coming together is a milestone we want to leverage in building a sustainable organization.”
Godrej Capital has, so far, disbursed over INR 5000 crores since inception in November 2020 across housing, SME, and MSME loans. It has expanded its presence across 11 cities in India and aims to expand its footprint to 30 cities across India in the next 12 months.