Corporate News     19-Aug-22
Central Bank of India enters into co-lending partnership with Incred Financial Services
To offer loans to MSMEs
Central Bank of India has entered into a strategic Co-Lending Partnership with lncred Financial Services to offer loans to MSME Borrowers 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 Incred Financial Services.

Under this arrangement, Incred Financial Services Limited will originate and process MSME proposals under Priority Sector as' per jointly formulated credit parameters and eligibility criteria and Central Bank of India will take into its books 80% of the MSME Priority Sector loans under mutually agreed terms. IFSL will service the loan account throughout the life cycle of the loan. The Co-Lending arrangement is expected to help both the entities to offer convenient experience and customer delight as well as help expand reach across India.

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