Country’s largest lender, State Bank of India (SBI) has entered into a co-lending agreement with Capri Global Capital to offer customised financing solutions to the underserved MSMEs of the country.
SBI in a statement said that it is constantly working towards associating with various NBFCs to create multiple co-lending opportunities for the financial empowerment of the MSMEs. This initiative will provide further impetus to financial inclusion in the country, it added.
Dinesh Khara, Chairman, SBI said, “Banks are the backbone of India’s economic growth and as the country pivots to sustainable growth, the banking sector will have to accelerate MSME lending. To improve the credit to the underserved and unserved, we are happy to associate with Capri Global Capital.”
Khara added, “We believe this collaboration will provide the nimble footedness of NBFC and quality credit to the right set of the population which will further deepen lending to MSMEs through the last mile connect. We are also confident that, in days to come, co-lending can generate employment opportunities through MSMEs which can translate into the country’s GDP growth.”
A co-lending arrangement allows sharing of risk, wider reach & best rate of interest for the customer.
Rajesh Sharma, Managing Director, Capri Global Capital Ltd said, “We are delighted to partner with India’s largest bank. Our combined synergies are ideally placed to provide customized financial solutions to the borrowers. SBI’s wide reach and trust in the market, coupled with our connection with the underserved borrowers, state-of-the-art IT infrastructure, increasing customer reach and underwriting functions will further enhance our distribution network.”
Sharma said, “This collaboration will create win-win business opportunities for all stakeholders. To the borrowers, it would mean more choice to avail innovative offerings, including attractive loan rates and faster approvals.”
