Bank of Baroda-KapitalTech tie-up to provide loans to MSMEs, small businesses
Country's third-largest public sector bank Bank of Baroda (BoB) entered into a partnership with KapitalTech, a fintech lender, for providing loans to the MSME sector, under the co-origination guidelines of the Reserve Bank of India (RBI).
Country's third-largest public sector bank Bank of Baroda (BoB) entered into a partnership with KapitalTech, a fintech lender, for providing loans to the MSME sector, under the co-origination guidelines of the Reserve Bank of India (RBI).
The partnership aims at offering working capital business loans to MSMEs in over 200 micro markets across India. BoB in a statement said that the focus will be to reach out to small businesses in need of capital in Tier II and Tier III cities that are traditionally underserved by financing channels.
Vikramaditya Singh Khichi, Executive Director at Bank of Baroda, said “We are committed to working jointly with various partners to support MSMEs, and we have entered into this MoU to enhance our footprint in delivery of products and services in the MSME eco-system.”
TRENDING NOW

Amazon Great Indian Festival Sale 2023 likely to begin soon; discounts, exchange and bank offers, and more

Domestic capital goods firm announces expansion plan, to venture into Dubai market with Rs 500 million investment

India vs Australia 3rd ODI Free Live Streaming: When and How to watch IND VS AUS match live on Web, tv, mobile apps online
"We will be using our end-to-end paperless Tech-stack which includes ‘DEXTER’ – a Machine Learning underwriting Engine. This partnership is a validation of our high-quality portfolio and our ability to cater to wide-ranging MSME customers,” KapitalTech company statement said.
KapitalTech is one of the Fintech lenders in India. KapitalTech has lent over Rs 2000 crore so far and has a spread of over 15000 MSME customers with loan tenures ranging from for 12 to 36 months.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

Retirement Planning: How long-term recurring deposit is a low-risk, guaranteed return investment for senior citizens?

JSW Infrastructure IPO opens for subscription: Check price band, lot size, share listing date and time on NSE, BSE

Traders' Diary: Buy, sell or hold strategy on IRCTC, LIC Housing Finance, Lemon Tree, ONGC, Tech Mahindra, over a dozen other stocks today

Dividend, stock split shares this week: HAL, Brightcom Group, Bajaj Holdings & Investment among other shares to trade ex-date
12:37 pm