BILKULONLINE

Mumbai, Aug 29: Surender Rana DMD (ASF), SBI inaugurated State Bank of India’s first co-lending CPC at Nariman Point, Mumbai on August 28, 2024. The CPC is a dedicated unit for co-lending business of NBFCs.

The inauguration ceremony witnessed the presence of SBI dignitaries,  Shantanu Pendsey CGM (ABU & GSS) and  Salila Pande CGM MMR. Other dignitaries from the corporate centre and NBFC teams of NIDO Home Finance and Ugro Capital Ltd. were present as well.

The inauguration of co-lending CPC is a step towards demonstrating SBI’s commitment to growing its co-lending book with a focus on safety and sustainability.

This commitment is in line with SBI’s ongoing efforts to support MSMEs and the under-served population where the bank has made significant strides in FY24. To strengthen support to MSMEs having little or no access to formal credit, SBI has entered into a co-lending agreement with 9 NBFCs. Further, to dedicatedly continue reaching out to the unserved and under-served populace, the bank has signed MoUs with 23 NBFCs/HFCs under co-lending model.

The inauguration of the co-lending CPC reflects SBI’s determination to grow the co-lending book in a safe way and reiterates the bank’s dedication towards welfare of MSMEs and under-served population.