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SBI, Capri Global Capital Sign MoU To Accelerate MSME Lending

This association will offer strategic and customized financing solutions to the underserved MSMEs of the country in line with RBI guidelines, as per the official statement.

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With an aim to boost MSME lending, the State Bank of India (SBI) on Monday said that it has entered into a co-lending arrangement with Capri Global Capital (CGCL). 

This association will offer strategic and customized financing solutions to the underserved MSMEs of the country in line with RBI guidelines, as per the official statement. 

SBI is constantly working towards associating with various NBFCs to create multiple co-lending opportunities for the financial empowerment of the MSMEs. This initiative will provide further impetus to financial inclusion in the country.

“Banks are the backbone of India's economic growth and as the country pivots to sustainable growth, the banking sector will have to accelerate MSME lending. To improve the credit to the underserved and unserved, we are happy to associate with Capri Global Capital. We believe this collaboration will provide the nimble footedness of NBFC and quality credit to the right set of the population which will further deepen lending to MSMEs through the last mile connect. We are also confident that, in days to come, co-lending can generate employment opportunities through MSMEs which can translate into the country’s GDP growth," said Chairman of SBI, Dinesh Khara. 

The MOU was exchanged in the presence of Khara, C.S. Setty, MD (Retail & Digital Banking), SBI; S. Salee, DMD (SME, Agri, and FI), SBI; and Rajesh Sharma, Managing Director, Capri Global Capital.

RBI had issued guidelines on the co-lending scheme for banks and NBFCs for priority sector lending to improve the flow of credit to unserved and underserved sectors of the economy and to make funds available to borrowers at an affordable cost. The co-lending model aims to give the borrower the best interest rate and better reach.


Tags assigned to this article:
sbi Capri Global Capital mou MSME lending