Karnataka Bank and NBFC Clix Capital enter co-lending partnership ?

Banking & Finance

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.Speaking on the collaboration, Mr. 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. 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".


      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 & easy lending tech platform and robust due diligence.

      The partnership aims to provide seamless financing solutions, conveniently and economically in a digital manner, thereby enabling both the partners to draw upon each other’s strengths to serve the unserved. The agreement was signed in Bengaluru today.

 

     


About Karnatka Bank:

Headquarters: Mangaluru
Founded: 18 February 1924
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