State Bank of India (SBI), the country’s largest bank, inaugurated its Centre of Excellence (CoE) for MSMEs at the State Bank Academy (SBA), Gurugram. The Centre has been established with an objective of strengthening the MSME ecosystem through capacity building, research, and industry collaboration, thereby contributing to India’s vision of becoming a developed nation. The Centre was inaugurated by Shri M. Nagaraju, Secretary, Department of Financial Services (DFS) and Shri C.S. Setty, Chairman, in the presence of Shri Vinay M. Tonse, MD (RB&O), Shri Surender Rana, DMD (Retail-Agri, SME & FI), Shri Anindya Sunder Paul, DMD (SME & SCF) and Smt. Suranjana Dutta, CGM STU. SBA is an institute imparting specialized training in Credit, International Banking, Risk & Compliance and carrying out Research & Development in various spheres of banking.Shri M. Nagaraju, Secretary, Department of Financial Services, said, “MSMEs are the true engines of growth, creating widespread employment and driving prosperity in rural India, which is critical for our journey towards becoming a developed nation. I urge this SBI Centre of Excellence to benchmark itself against the best MSME institutions in the country. My expectation is that the CoE will engage in making case studies and undertaking research, creating a rich repository of knowledge and sharing it online for the benefit of all, especially those in remote areas. Continuous innovation and deep engagement with entrepreneurs, fintechs, and startups will be the key to its success.”Speaking on the occasion, Shri C.S. Setty, Chairman, SBI, stated, “As the largest lender to MSMEs, with the widest network of SME branches, SBI is responsible to build capacity and the Centre of Excellence will serve as a hub of ideas and innovation, supporting the development of new SME-focused products and processes that can benefit the entire banking sector.”