Central Bank of India enters into co-lending partnership with Kisetsu Saison Finance India Pvt Ltd for MSME Loans

Central Bank of India has entered into a strategic Co-Lending Partnership with M/s. Kisetsu Saison Finance (India) Private Limited to offer MSME Loans at competitive rates, subject to compliance with the applicable law(s) including the applicable guidelines issued by Reserve Bank of India (RBI). The participation by both the entities in this Co-Lending arrangement will result in greater expansion of portfolio by Central Bank of India and M/s. Kisetsu Saison Finance (India) Private Limited.

M/s. Kisetsu Saison Finance (India) Private Limited is an NBFC registered with Reserve Bank of India. The NBFC is engaged in the business of financing loans to individuals, MSMEs and body corporates in India. The Company is headquartered in Bengaluru and the network of branches across India enables it to source and service clients across 40 locations in 18 States/Union territories.The AUM of the Company as on 30th September 2023 was more than Rs. 8200 Cr.

Under the arrangement, M/s. Kisetsu Saison Finance (India) Private Limited will originate and process Loan proposals under MSME Sector as per jointly formulated credit parameters and eligibility criteria and Central Bank of India will take into its books 80% of the MSME Loans under mutually agreed terms. M/s. Kisetsu Saison Finance (India) Private Limited will service the loan account throughout the life cycle of the loan. The Co-Lending arrangement is expected to benefit both the entities to offer convenient experience and customer delight to their customers as well as to expand their reach across India.

Shares of Central Bank of India was last trading in BSE at Rs. 49.05 as compared to the previous close of Rs. 48.67. The total number of shares traded during the day was 668703 in over 2199 trades.

The stock hit an intraday high of Rs. 49.94 and intraday low of 48.66. The net turnover during the day was Rs. 32960039.00.

Source : Equity Bulls

Keywords

CentralBankofIndia INE483A01010 CoLendingPartnership KisetsuSaisonFinance MSMELoans