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Capri Global Capital ties with SBI for co-lending to MSMEs

The loan disbursement under this arrangement would commence from December 2021.

November 29, 2021 4:55 IST | India Infoline News Service
State Bank of India, SBI
Capri Global Capital Limited (CGCL) on Monday has entered into a Co‐Lending agreement with the State Bank of India (SBI), the country’s largest public‐sector bank, to offer MSME loans. Through this collaboration, CGCL and SBI aim to disburse MSME loans initially across 100+ touch points pan‐India.

The loan disbursement under this arrangement would commence from December 2021.

Rajesh Sharma, Managing Director, Capri Global Capital Ltd said, “We are delighted to partner with India’s largest bank. Our combined synergies are ideally placed to provide customized financial solutions to the borrowers. SBI’s wide reach and trust in the market, coupled with our connection with the underserved borrowers, state‐of‐the‐art IT infrastructure, increasing customer reach and underwriting functions will further enhance our distribution network. This collaboration will create win‐win business opportunities for all stakeholders. To the borrowers, it would mean more choice to avail innovative offerings, including attractive loan rates and faster approvals.”

Dinesh Khara, Chairman, SBI said, "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 right set of 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."

The duo signed the agreement under the Co‐Lending guidelines issued by RBI in November 2020 for Co‐Lending to the Priority Sector.

The tie-up will help MSMEs to avail customized lending solutions at a competitive rate of interest with a significant reduction in turn‐around time. The Co‐ Lending agreement aims to enhance last‐mile finance and drive financial inclusion to MSMEs by offering secured loans between Rs10 lakhs to Rs100 lakhs.

The Co‐Lending arrangement will entail joint contribution of credit to the prospective MSME customers in Tier II and Tier III markets. 

Under this joint effort, the benefit of low‐cost funds from SBI and efficient operations of CGCL would be passed on to the borrowers.

On Sensex, Capri Global finished at Rs503 per piece down by 2.09%. 

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