South Indian Bank and Steel Authority of India Limited have signed Memorandum of Understanding on 11 January 2022 to provide financial assistance to the dealers of SAIL across the country.The tie-up allows South Indian Bank to offer SAIL's dealers with financial assistance for working capital, especially steel procurement. With South Indian Bank network of 928 branches, South Indian Bank will be able to serve the MSME and corporate customers of SAIL located at different geographies. SAIL has a vast network of dealers who ensure availability of quality steel in virtually all the districts of the country. SAIL’s association with SIB will provide them an alternative financing option at competitive prices. It will ensure unhindered and smooth flow of steel through the supply chain, which, in turn, will ensure that the wheels of industry run smoothly."