SBI signs pact with U Gro Capital for Co-lending to underserved MSMEs

Published By : Chinmaya Dehury | November 17, 2021 5:37 PM

Mumbai, Nov 17: Country’s largest bank, State Bank of India (SBI), has entered into a Co-Lending agreement with U GRO Capital to offer strategic financing solutions to the unserved and underserved MSMEs of the country in line with RBI guidelines. SBI is actively looking at co-lending opportunities with multiple NBFCs through their products for financing the MSMEs and to enhance last mile connect. This initiative will financially empower MSMEs and further drive financial inclusion in the country. Dinesh Khara, Chairman, SBI said, “We are glad to have joined hands with U GRO Capital under the co-lending program. This collaboration will further enhance our distribution network, as we aim to extend our credit reach to more MSMEs. Such partnerships align with our commitment to accelerate effective and affordable credit to MSMEs in India and contribute to the country’s financial inclusion imperative towards building an Atmanirbhar Bharat.” The partnership was signed in the presence of Dinesh Khara, Chairman, SBI, C.S. Setty, MD (Retail & Digital Banking), SBI and Shachindra Nath, Executive Chairman and MD, U GRO Capital. RBI had issued guidelines on co-lending scheme for banks and NBFCs for Priority Sector Lending to improve the flow of credit to unserved and underserved sectors of economy and to make funds available to borrowers at an affordable cost. The co-lending model aims to give the borrower the best interest rate and better reach.

Prameya English Is Now On WhatsApp Join And Get Latest News Updates Delivered To You Via WhatsApp

You Might Also Like

More From Related News

Union Minister Rajiv Ranjan Singh unveils 17 new fisheries clusters at ICAR-CIFA, Bhubaneswar

Odisha honoured by Agriculture Today for best agricultural practices

Over 57% of Odisha Yatri users are women

IBCS Organises FDP on India's Growth and Economic Challenges

Odisha tops in private investments, says Industries Minister Sampad Swain

Google Launches AI Mode in Search Across India, English Only for Now

Google launches AI mode feature for all users in India

JSW Steel’s Narayanposhi Mines honoured with 5-star award

Titan Shares Plunge: Jhunjhunwala Family Loses Rs 900 Crore as Tata Stock Hits 52-Week Low

Jindal (India) gets nod for ₹3,600 Cr greenfield steel plant in Odisha

Odisha govt. revokes restrictions on delinked HDFC, Axis and ICICI Banks

RBI led ' HDFC Bank Currency Chest' floats Mega Coin Mela at Puri Grand Road ahead of Bahuda Yatra

Microsoft Manager Laid Off After 25 Years Shares Bittersweet Farewell in Viral LinkedIn Post

Foxconn Recalls Chinese Engineers from India, Threatens Apple iPhone 17 Production

RBI asks Banks to Integrate DoT’s Financial Fraud Risk Indicator (FRI)

R E C L A I M to develop framework for repurposing mines

East Coast Railway posts 9.69% growth in freight loading in Q1 of FY 2025-26

Jio crosses 5 lakh JioFiber and JioAirFiber subscribers milestone in Odisha

India's GST system hits record ₹22.08 lakh crore collection in 2024–25

India-US to Announce Interim Trade Deal, Avoiding July 9 Tariff Deadline

WhatsApp Channel

Latest News

Fire breaks out at Rourkela Railway Station: B...

Amit Shah chairs 27th meeting of the Eastern Z...

Eastern Zonal Council Meeting with Amit Shah c...

Rahul Gandhi’s Odisha visit tomorrow: CP draws...

Kapil Sharma’s Kap’s Café in Canada attacked b...

Bhubaneswar first track court sentences man to...

Punjab Cabinet approves Rs 10 lakh health insu...

Copyright © 2024 - Summa Real Media Private Limited. All Rights Reserved.