Central Bank of India ink co-lending deal with fintech U GRO Capital

MSME lending fintech platform, U GRO Capital on Wednesday announced that it has signed a co-lending agreement with Central Bank of India.

Under this partnership, the two entities aim to disburse up to Rs 1000 crore to U GRO Capital's varied MSME segments under its programmes like Pratham, Sanjeevani, Saathi, GRO MSME and Machinery financing, in the next 12 months.

The co-lending arrangement with Central Bank of India will work towards providing formal credit to underserved MSMEs at affordable rates across all product categories of U GRO Capital, it said in a statement.