HYDERABAD: State Bank of Hyderabad has signed a pact with Bharatiya Yuva Shakti Trust (BYST) to promote entrepreneurship among youth across the country.
The MoU was exchanged between Santanu Mukherjee MD, SBH and Ramesh Datla, former chairman, Strategic Committee, Hyderabad, BYST here on Friday.
As per the pact, both SBH and BYST have agreed to promote entrepreneurship through -- SBH-BYST Entrepreneur Development Programme. The integrated scheme includes financial and mentoring for underprivileged youth in the age group of 18-35 including women, minorities, physically-challenged, urban and rural youth.
“The primary criteria being initiative and a meritorious business idea that has been developed to an extent,” said SBH in a statement adding that BYST and SBH may mutually consider relaxation in upper age limit on a case-to-case basis and on merit.
Under the programme, loans up to Rs 50 lakh would be provided without colleteral security.The MoU came into effect from July 1.