Bengaluru : Karnataka Bank (KBL), a prominent Private Sector Bank, and Clix Capital, a rapidly advancing new-age Non-Banking Financial Company (NBFC) in India, have formed a strategic digital co-lending alliance using the Yubi Co.lend Platform.
- The primary objective of this collaboration is to extend loans to the Indian Micro, Small, and Medium Enterprises (MSME) sector, a significant contributor to India’s GDP and employment expansion. This agreement aligns with the Reserve Bank of India’s directives on cooperative lending by banks and NBFCs in 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.
- Commenting on the collaboration, Mr. Srikrishnan H, Managing Director & CEO of Karnataka Bank, expressed, “Our co-lending partnership with Clix Capital is geared towards providing digital credit to MSMEs, offering superior products and services through our extensive branch network. Through this arrangement, we aim to make much-needed liquidity available to the MSME sector at affordable rates, turning it into a reality. Clix Capital and Karnataka Bank will collaboratively address the requirements of MSMEs, contributing momentum to the micro-credit facilities segment, all while keeping in mind the goal of sustainable economic growth for the country.”