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Posted on Feb 26, 09:21PM | UNI
Chennai, Feb 26 : The Export-Import Bank of India (Exim Bank) today signed a Memorandum of Co-operation (MoC) with the Rural Technology and Business Incubator (RTBI), an incubator cell in Indian Institute of Technology, Madras Research Park (IITM) to evaluate and support companies in their nascent stage for improving rural livelihood.
The companies which Exim Bank seeks to support should focus on improving rural livelihoods along with having a promising export potential.
The MoU was signed by Exim Bank Chairman and Managing Director T C A Ranganathan and RTBI Co-Chairman Dr Ashok Jhunjhunwala.
Exim Bank's MoC with RTBI would pave a path for the Bank to support companies doing innovative work in the rural sector, whose potential have been evaluated by an expert group.
RTBI was IITM's incubator facilitating rural-inclusive technology and business innovation in India. It is a not-for-profit society.