December 5, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Union Bank of India, Capri Global Capital tie up for co-lending to MSMEs

has entered into a co-lending partnership with Capri Global Capital, under which they will disburse loans to MSMEs.

Ltd (CGCL) is a non banking financial company focused on lending to MSMEs and the affordable housing finance segment.

The co-lending agreement aims to enhance last-mile finance and drive financial inclusion to MSMEs by offering secured loans between Rs 10 lakh to Rs 1 crore, the public sector lender said in a statement.

Through this collaboration, and CGCL aim to disburse MSME loans initially across 100 plus touch points across India, it said.

The pact between the two is as per the guidelines issued by RBI in November last year on co-lending to the priority sector.

The collaboration will help MSMEs avail customised lending solutions at a competitive rate of interest with a significant reduction in turn-around time.

Both the entities will entail joint contribution of credit to the prospective MSME customers in tier II and III markets.

“Union Bank is committed to supporting MSMEs by providing tailor-made financial solutions and accelerating the growth of MSMEs to contribute to the country’s economic development,” Rajkiran Rai G, MD and CEO, said.

The partnership with CGCL is part of the bank’s strategy to bring synergy between both the that will help serve the most deserving and underserved businesses in smaller towns across the country, he said.

“Through this partnership, the aim is to reach out to a large section of the society by offering easy, convenient, and efficient credit solutions and empowering them to be key contributors to fiscal growth. Our focus is to support the grassroots entrepreneurship that creates economic value,” Rajesh Sharma, Managing Director, CGCL said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Share This :