SBI Signs Co-Origination Loan Agreement with PAISALO
PAISALO Digital Limited, a leading Systemically Important Non-Deposit taking NBFC registered with the Reserve Bank of India signed the first co-origination loan agreement with State Bank of India, with a vision to empower the AGRI, MSME segment and small businesses. This is a first agreement of its kind in the country that State Bank of India has signed. Introducing a platform for the last mile customer, the loan ticket is designed at 10,000 to two lakh. The company expects to disburse 200,000 loan applications in FY20.
“We at PAISALO have always believed in our mission of conducting business with a social conscience and we intend to continue this thought throughout our journey. We are delighted to associate with State Bank of India as their first co-lending partner, and are thankful to the State Bank of India for their trust,” says Sunil Agarwal, Managing Director, PAISALO. “SBI and PAISALO intend to enable the customers to reach us with ease and use it for smooth loan disbursal and repayment easily. We aim at partnering with the people in the growth journey of their business and help them contribute to maximum job creation. Our loan ticket and tenure are designed to cater to this special segment for their working capital and other requirements,” he adds.
“We at PAISALO, acknowledge the constructive disruption technology has brought in the lending space, we are committed to leveraging it to reach the maximum end-users at a minimum cost, a benefit that we can pass it on to them. We aim to be AVAILABLE – AWARE – AFFORDABLE,” says Santanu Agarwal, Chief Innovation Officer, PAISALO.