Bank of Baroda has announced that it has signed a co-lending agreement with Paisalo Digital, a non-banking financial firm to offer small-ticket business loans to Micro, Small and Medium Enterprises (MSMEs) and businesswomen. The collaboration between the two will provide easy access to small-ticket finance for income generation to women entrepreneurs and MSMEs.
Santanu Agarwal, Deputy CEO of Paisalo Digital said, “Paisalo sees a huge opportunity, and is well-positioned to capitalize on the huge Rs 8 lakh crore markets of small-ticket loans for India’s 365 million under-banked and under-serviced population.”
Head – MSME Business, Bank of Baroda, Dhrubashish Bhattacharya said by entering into a pact with Paisalo will help the bank to reach and serve a substantial market segment including small business, women-led enterprises, Agri/allied Agri ventures which till now was found to be a tedious task to access formal sources of financing.
