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.
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 Rs 10 lakhs to Rs 100 lakhs. The Co]Lending arrangement will entail joint contribution of credit to the prospective MSME customers in Tier II and Tier III markets.
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