Central Bank of India To Offer MSME Loans In Partnership With SFISPL

New Delhi, Aug 30 (KNN) Central Bank of India had signed a strategic co-lending partnership with Samunnati Financial Intermediation & Services Private Limited to offer agriculture and MSME loans. 

“The participation by both the entities in this co-lending arrangement will result in greater expansion of portfolio by Central Bank of India and Samunnati Financial Intermediation & Services Private Limited,” Central Bank of India said in a regulatory filing. 

Samunnati Financial Intermediation & Services Private Limited (SFISPL) is registered with RBI. 

It is engaged in providing loans for agriculture and allied activities as well as to the MSME sector.

Under the arrangement, SFISPL will originate and process loan proposals under agriculture and MSME sector as per jointly formulated credit parameters and eligibility criteria.

The bank will take into its books 80 per cent of the agriculture and MSME loans under mutually agreed terms. SFISPL will service the loan account throughout the life cycle of the loan.   (KNN Bureau)