Karnataka Bank Ltd & Paisalo Digital Limited Enter Into Co-Lending Agreement: Click to Know

Karnataka Bank Ltd & Paisalo Digital Limited Enter Into Co-Lending Agreement: Click to Know

Karnataka Bank Ltd (KPL) and Paisalo Digital Limited (PDL), a non-deposit taking non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI), have entered into a co-lending arrangement, to provide financial support to those in the small-income segment, and to give impetus to the micro & small enterprises (MSEs) segment of the country.

In line with the Reserve Bank of India’s guidelines on Co-lending by banks and NBFCs to Priority Sector to improve the flow of credit to unserved and underserved segments, the arrangement will leverage Karnataka Bank’s low cost of funds and the end-to-end digital capabilities of KBL and Paisalo, to help the sourcing, servicing and recovery of small-ticket income generation priority sector loans.

Speaking on the occasion, Karnataka Bank managing director and CEO Mahabaleshwara M S said, “Co-lending model is one of the innovative avenues of lending to the priority sector. This tie-up shall create a dynamic synergy between the two sets of lenders, Paisalo Digital Limited and KBL. As per RBI’s co-lending norms, this arrangement will help us in extending credit to the priority sector, and promoting financial inclusion, by providing necessary financial support to micro entrepreneurs.”

Santanu Agarwal, deputy managing director, Paisalo Digital Limited, said, “Paisalo sees a huge opportunity, and is well-positioned to capitalise on the huge Rs 8 lakh crore market of small-ticket loans, for our 365 million underbanked and under-serviced population.

Latest News

Build a career in Digital Marketing with solid foundation. Learn core marketing and digital tools like Google Adwords, Facebook Ads, SEO, Google Analytics, Social Media Marketing, Website Enhancement, SEO content writing, Pay Per Click. Study on live projects. Hurry up!
Contact us. @ 9900144664 OR
Visit Us @ bluelinecomputers.com

also read