Punjab National Bank enters into Tie up Arrangement with Paisalo Digital Limited & Vedika Credit Capital Limited for Co-lending Business
Kolkata : To align with the Government of India reform agenda and to improve the flow of credit to the unserved and underserved sector of the economy, Punjab National Bank has entered into Co-Lending arrangement with Paisalo Digital Limited and Vedika Credit Capital Limited. With these arrangements, the ultimate beneficiaries under MSME and Agriculture segment will get the funds at an affordable rate considering the lower cost of funds from banks and greater reach of the NBFCs.
As per RBI Co-Lending Model (CLM), Bank and NBFC will co-lend the customer in the ratio of 80% and 20% respectively. However, NBFC will act as single point of interface for the customer and will service the loans throughout its tenure.
Sh. Ashok Kumar Gupta, General Manager (MSME), PNB signed the co-lending loan agreements w.r.t. above arrangements in the presence of Sh. Surendra Kumar Dixit, CGM & Sh. Arun Sharma, General Manager (Agriculture), PNB. The partnership under the said arrangements will result in significant disbursement under Priority sector lending.