State Bank of India (SBI) and Coromandel International signed a memorandum of understanding (MoU) to facilitate financing the farmers who are customers of Coromandel's retail stores.

In terms of the MoU, the bank would take care of the need based credit support to farmers associated with Coromandel. KCC Rupay Cards will be issued to these farmers which may be used to buy agricultural inputs through the Point of Sales machines of SBI installed in the retail stores of Coromandel. While Coromandel's farmers would be benefitted by the financial assistance, bank will be benefitted by enhancing its credit into priority segment.
 
Shares of the SBI declined Rs 1.15, or 0.38%, to trade at Rs 300.75. The total volume of shares traded was 1,003,134 at the BSE (1.22 p.m., Tuesday).