Pune: Bank of Maharashtra (BoM), has entered into a strategic Co-Lendingp partnership with MAS Financial Services Ltd. The Co-Lending envisages offering loans to MSME borrowers under priority sector, subject to compliance with the applicable law(s) including the applicable guidelines issued by the Reserve Bank of India. The participation by both entities in this co-lending arrangement will result in greater expansion of credit portfolios of Bank of Maharashtra & MAS Financial Services Ltd.
Mr. A S Rajeev, Managing Director & CEO opined that Co-lending as a concept is picking up pace and will change the landscape of credit dissemination to MSMEs. It has become a potent medium to enhance the credit flow to the unserved and underserved sector and make available funds to the ultimate beneficiary at an affordable cost.
Mr. A B Vijayakumar, Executive Director said, Bank of Maharashtra is committed to fostering partnerships with Fin-Tech companies. We believe that forging such a technology-driven partnership is the way forward that will pave the path for sustainable growth of our credit portfolio while ensuring the availability of credit facilities to MSMEs at a reasonable cost. The bank is in the process of ramping up its digital channels to facilitate seamless credit delivery.
MAS Financial Services Ltd is an RBl regulated non-banking finance company with a pan India branch network and has a track record of good customer acquisition.
