Capri Global Capital Limited Partnered with State Bank of India
News Desk, News Nation 360 : Capri Global Capital Limited (CGCL), a leading NBFC focused on lending to MSMEs, and the affordable housing finance segment has entered into a Co-Lending agreement with the State Bank of India (SBI), the country’s largest public-sector bank, to offer MSME loans. Through this collaboration, CGCL and SBI aim to disburse MSME loans initially across 100+ touch points pan-India. The loan disbursement under this arrangement would commence from December 2021. Speaking on the development, Rajesh Sharma, Managing Director, Capri Global Capital Ltd said that they are delighted to partner with India’s largest bank. Their combined synergies are ideally placed to provide customized financial solutions to the borrowers. SBI’s wide reach and trust in the market, coupled with their connection with the underserved borrowers, state-of-the-art IT infrastructure, increasing customer reach and underwriting functions will further enhance their distribution network. 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. This agreement is signed under the Co-Lending guidelines issued by RBI in November 2020 for Co-Lending to the Priority Sector. The collaboration will help MSMEs to avail customized lending solutions at a competitive rate of interest with a significant reduction in turn-around time. The Co-Lending agreement aims to enhance last-mile finance and drive financial inclusion to MSMEs by offering secured loans between ₹10 lakhs to ₹100 lakhs. The Co-Lending arrangement will entail joint contribution of credit to the prospective MSME customers in Tier II and Tier III markets.
Report : Anustup Kundu