Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic

    January 23, 2023

    360 ONE acquires Mumbai Angels; announces two new funds with them

    January 23, 2023

    Kotak General Insurance partners with Clootrack to enhance customer centricity

    January 23, 2023
    Facebook Twitter Instagram
    BFSINXT
    Twitter YouTube LinkedIn
    • Banking
      • SME /Wholesale Banking
      • Retail
      • HR
        • Wholesale
      • Rural & Agri
    • NBFC
      • Customer Experience
      • Retail
      • Digital
    • Insurance
      • Life
      • General
      • InsurTech
    • Fintech
      • Payments
      • Lending
      • Wealth/PF
      • Neo-Banking
    • Policy
      • RBI
      • IRDAI
      • SEBI
      • Government
    • Financial Services
      • Securities
      • AMC
    • About us
      • Editorial Team
      • Our Advisory Panel
      • Get In Touch
    BFSINXT
    Home » SIDBI enters Co-lending Space for Unsecured Loans to MSMEs, partners with Ambit Finvest
    NBFC

    SIDBI enters Co-lending Space for Unsecured Loans to MSMEs, partners with Ambit Finvest

    Sanjay Agarwal, CEO, Ambit Finvest added, “We are delighted to partner with SIDBI in increasing its reach to meet the credit requirements of the MSME segment. The alliance with SIDBI will enable Ambit Finvest to reach wider geographies and offer unsecured business loans at a blended lower rate of interest to many MSMEs who currently face challenges of higher interest rates, and hence are excluded from access to Banking services. Also, a co-lending partnership with a pioneering organisation like SIDBI will help Ambit Finvest further expand its footprint in the MSME segment”. 
    December 31, 20223 Mins ReadBy Bfsinxt Desk
    Twitter LinkedIn WhatsApp

    Small Industries Development Bank of India (SIDBI), the country’s apex financial institution for MSMEs, announced entering into its first co-lending arrangement with Ambit Finvest Pvt. Ltd., the Non-Banking Financial Company (NBFC) of the Ambit Group, to provide Unsecured Business Loans to MSMEs.

    RBI’s Co-lending framework envisages leveraging the comparative advantages of banks and NBFCs in a collaborative effort to boost the priority sector lending.

    Sivasubramanian Ramann, CMD, SIDBI said “NBFCs are an important vehicle in the growth strategy of SIDBI due to their willingness and ability to reach bottom of the pyramid businesses, especially in credit deficient geographies, adoption of innovative and nimble credit delivery models and understanding of the local ecosystem. While SIDBI has been providing financial assistance to a wider spectrum of NBFCs, under our new growth vision, we are looking at the co-lending framework put in place by the RBI as another major opportunity to channelize affordable and timely credit to the smallest of the MSMEs, especially New to Credit borrowers, in partnership with NBFCs.”

    Ramann added, “In this foray, we are happy to commence the first co-lending arrangement with Ambit Finvest, which will help provide affordable business loans to lower segment of the MSMEs. While most of the tie-ups in co-lending space have been for secured loans, our partnership with Ambit Finvest is one of the earliest such arrangements for unsecured Business Loans”.

    Sanjay Agarwal, CEO, Ambit Finvest added, “We are delighted to partner with SIDBI in increasing its reach to meet the credit requirements of the MSME segment. The alliance with SIDBI will enable Ambit Finvest to reach wider geographies and offer unsecured business loans at a blended lower rate of interest to many MSMEs who currently face challenges of higher interest rates, and hence are excluded from access to Banking services. Also, a co-lending partnership with a pioneering organisation like SIDBI will help Ambit Finvest further expand its footprint in the MSME segment”.

    CMD SIDBI believes that efficient use of data and digital strategies would be key to reach to the still excluded MSME segment. Going forward, he said, fully automated seamless data flow through co-lending tech platforms, backed by a robust API integration layer in the backend, would prove to be a milestone in achieving the long-cherished dream of serving the smallest of the businesses in the country in an affordable manner, thereby realising the ‘Atma-nirbhar Bharat’ vision of the Government of India.

     

    Ambit MSME SIDBI
    Previous ArticleIIFL Fintech Fund Leads Investment Round in Insurance Samadhan For 16% Stake
    Next Article PLANET App by L&T Financial Services Crosses 1.5 Million Downloads
    Bfsinxt Desk

    Related Posts

    PLANET App by L&T Financial Services Crosses 1.5 Million Downloads

    January 7, 2023

    Piramal Finance launches ‘Innovation Lab’ in Bengaluru

    December 19, 2022

    SIDBI partners with M1xchange as financier to provide more liquidity to MSMEs

    December 19, 2022

    Shriram Transport Finance and Shriram City Union Finance are now Shriram Finance, India’s largest retail finance NBFC

    December 5, 2022

    Leave A Reply Cancel Reply

    Recent Posts

    • PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic
    • 360 ONE acquires Mumbai Angels; announces two new funds with them
    • Kotak General Insurance partners with Clootrack to enhance customer centricity
    • Upstox partners with ‘Trading View’ to empower traders with simplicity
    • AU Small Finance Bank introduces menstrual leaves for women employees

    Recent Comments

    No comments to show.
    Demo
    NBFC's

    PLANET App by L&T Financial Services Crosses 1.5 Million Downloads

    January 7, 2023

    SIDBI enters Co-lending Space for Unsecured Loans to MSMEs, partners with Ambit Finvest

    December 31, 2022

    Piramal Finance launches ‘Innovation Lab’ in Bengaluru

    December 19, 2022

    Shriram Transport Finance and Shriram City Union Finance are now Shriram Finance, India’s largest retail finance NBFC

    December 5, 2022
    New Policy
    Policy

    GSTN gets included as a Financial Information Provider under Account Aggregator Framework

    November 23, 20220By Bfsinxt Desk

    The RBI said, with a view to facilitate cash flow-based lending to MSMEs, it has been decided to include Goods and Services Tax Network (GSTN) as a Financial Information Provider (FIP) under the Account Aggregator (AA) framework.

    RBI to run Nation-wide Finanical Services Awareness Programme in November 2022

    November 3, 2022

    RBI to soon operationalise CBDC Wholesale (e₹-W) Pilot

    November 1, 2022

    RBI launches दक्ष (DAKSH) – Reserve Bank’s Advanced Supervisory Monitoring System

    October 8, 2022
    • Twitter
    • YouTube

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    BFSINXT
    Twitter YouTube LinkedIn
    © 2023 bfsinxt.com.

    Type above and press Enter to search. Press Esc to cancel.