Key Points of the Partnership:
- Central Bank of India and Mamta Projects have formed a co-lending partnership
- The partnership is to offer MSME loans at competitive rates
- The partnership will result in greater expansion of portfolio for both entities
- Mamta Projects will originate and process MSME loan proposals, and Central Bank of India will take 80% of loans under priority sector.
- The Co-Lending arrangement aims to provide a more convenient customer experience and expand the reach of both entities across India.
Central Bank of India has established a strategic partnership with Mamta Projects Pvt Ltd (MPPL) to provide MSME loans to borrowers at competitive rates in accordance with the laws and guidelines established by the Reserve Bank of India (RBI). Through this partnership, Central Bank of India and Mamta Projects will see a growth in their portfolios. Mamta Projects will be responsible for developing and handling MSME loan proposals under the Priority Sector according to pre-determined credit parameters and eligibility criteria.
Central Bank of India will take 80% of these loans under Priority Sector through a mutually agreed upon process. Throughout the life cycle of the loan, MPPL will handle account servicing. This partnership aims to provide a more convenient experience and better serve customers while increasing the reach of both entities across India.
Central Bank of India, a commercial bank, operates in several segments including Treasury Operations, Corporate/Wholesale Banking, Retail Banking, and other Banking operations.
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