Central Bank of India and U GRO Capital sign a co-lending agreement; aim to disburse MSME loans wort
New Delhi: U GRO Capital, an NSE & BSE listed, MSME lending fintech platform, today announced that it has signed a co-lending agreement with Central Bank of India. Under this partnership, the two entities aim to disburse upto Rs. 1000 crores to U GRO Capital‘s varied MSME segments under its programs like Pratham, Sanjeevani, Saathi, GRO MSME and Machinery financing, in next 12 months.
The Co-lending arrangement with Central Bank of India will work towards providing formal credit to underserved MSMEs at affordable rates across all product categories of U GRO Capital. For the same, the bank will leverage U GRO’s digital technology platform driven by a Data Tripod of GST, Banking and Bureau, in addition to the company’s deep sectoral understanding and multi-channel distribution reach.