Pune: Bank of Maharashtra (BoM), a premier public sector bank in the country has entered into a strategic Co-Lending Partnership with MAS Financial Services Ltd. The Co-Lending envisage to offer loans to MSME borrowers under priority sector, subject to the compliance with the applicable law(s) including the applicable guidelines issued by Reserve Bank of India. The participation by both the 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 partnership with Fin-Tech companies. We believe that forging such technology driven partnership is the way forward which will pave the path for sustainable growth of our credit portfolio while ensuring availability of credit facility to MSMEs at a reasonable cost. Bank is on the process of ramp up its digital channels to facilitate seamless credit delivery.
MAS Financial Services Ltd is a RBl regulated non-banking finance company with pan India branch network and has a track record of good customer acquisition.
