Jan 16, 2024 19:15 IST PHOTOS BY P K ANANTH KUMAR
Karnataka Bank (KBL), a leading Private Sector Bank and Clix Capital, one of India’s fastest growing new-age NBFC have entered into a strategic digital co-lending partnership through Yubi Co.lend Platform.
The agreement is in line with the Reserve Bank of India’s guidelines on co-lending by banks and NBFCs to priority sectors. Private sector lender Karnataka Bank and non-banking finance company (NBFC) Clix Capital on Tuesday signed up for a strategic digital co-lending partnership through the platform Yubi Co.Lend
Speaking on the collaboration Mr. Srikrishnan H Managing Director & CEO,Karnataka Bank said “Our Colending partnership with Clix Capital will focus on digital credit to MSMEs with superior product and service offerings through our wide network of branches. By this arrangement the much needed liquidity at affordable rates for the MSME sector will be a reality. Clix Capital and Karnataka Bank will jointly address the MSME’s requirements adding impetus to the micro-credit facilities segment keeping in mind the sustainable economic growth for the country”.
Mr. Sekhar Rao, Executive Director, Karnataka Bank stated “the tie-up shall leverage technology and digital solutions to seamlessly extend wide range of financial products to MSME sector.
Commenting on the co-lending agreement with Karnataka Bank, Mr. Rakesh Kaul,CEO, Clix Capital said “We at CIix Capital feel elated as we sign this co-lending agreement with Karnataka Bank. With this partnership we will bring to the table our tech prowess, and agility to understand and underwrite segments that largely remain underserved. Our joined forces will together hamess the robust networks to reach a broader audience. Our efforts along with Karnataka Bank will empower the MSME to fuIfil their aspirations of seeking seamless and affordable business loans to grow.