Karnataka Bank (KBL), a leading private sector bank, and Clix Capital, one of India’s fastest-growing new-age NBFCs, have entered into a digital co-lending partnership through the Yubi Co.lend Platform.
This partnership is focused on providing loans to the Indian MSME sector, which is one of the biggest contributors to India’s GDP and employment growth. The agreement is in line with the Reserve Bank of India’s guidelines on co-lending by banks and NBFCs to priority sectors.
The partnership combines Karnataka Bank’s low cost of funds, end-to-end digital capabilities, and expertise to offer credit facilities to this segment, along with Clix Capital’s strong and easy lending technology platform and robust due diligence.
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Srikrishnan H, Managing Director & CEO, Karnataka Bank, said, “Our co-lending partnership with Clix Capital will focus on digital credit to MSMEs with superior product and service offerings through our wide network of branches.”
Rakesh Kaul, CEO, Clix Capital, said, “Our efforts, along with Karnataka Bank, will empower the MSME to fulfil their aspirations of seeking seamless and affordable business loans to grow.”