Bank of India partners with Paisalo Digital for enabling loans under co-origination model
New Delhi, Nov 4 (UNI) Bank of India, one of the leading Public Sector banks, has entered into an MoU with Paisalo Digital.
This partnership with Paisalo Digital is for enabling loans under Co-origination model, a new system introduced by the RBI in the wake of the liquidity crisis at non-banking finance companies to enhance the credit flow to productive sectors.
This Co Lending financing model with Paisalo Digital is in line with the Reserve Bank of India guidelines which will benefit the micro borrowers through easy and hassle free online loan with minimum Turn Around Time and quick disposal.
This arrangement is also expected to boost lending under Micro Units Development and Refinance Agency Ltd (MUDRA), a company statement said here on Monday.
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