•India’s Finance Minister Nirmala Sitharaman held a press conference on Friday wherein she mentioned that presently four NBFCs in India are presently in co-origination loan tie ups with banks.

MUMBAI, AUGUST  31, 2019 (GPN) :With a vision to empower the economy and the banking sector, the Government of India has introduced several improving measures including promotion of the Co-Origination of Priority Sector Loans with Banks and NBFCs which will play a significant role in helping India reach the USD 5 Trillion economy mark.

The Reserve Bank of India published guidelines for Banks and NBFC-SI-ND to Co-Originate Loans for Priority Sector Lending, and one of four NBFC to have entered into this space is PAISALO Digital Limited.

We at PAISALO Digital Limited, are thankful and grateful to Government of India and Reserve Bank of India for providing an opportunity to Co-Originate Loans with Banks; thereby providing PAISALO the opportunity to help India achieve the USD 5 Trillion mark.

The honorable Finance Minister Nirmala Sitharaman mentioned that presently, four NBFCs in India are in Co-Origination loan tie-ups with Banks.

We are pleased to announce that PAISALO Digital Limited is one of the first NBFC to enter into a co-origination loan agreement to improve priority sector lending with the India’s largest bank State Bank of India. This will boost the Indian economy by providing liquidity to the borrower at the bottom of the pyramid.

We would like to convey our sincere thanks to the State Bank of India for giving PAISALO Digital Limited this opportunity.

About PAISALO

PAISALO DIGITAL LIMITED (BSE: PAISALO | NSE: PAISALO | BLOOMBERG: PAISALO:IN | ISIN: INE420C01042) is a leading Systemically Important Non-Deposit-taking NBFC registered with the Reserve Bank of India, in operation since 1992. The company was founded by Mr. Sunil Agarwal, who possesses a rich experience of 29 years in the small finance business and holds the position of Managing Director of the Company since 1992. His experience, efforts and active involvement in the business operations have ensured that PAISALO has grown to be a listed, well-governed NBFC-SI-ND with footprints in rural and semi-urban areas in 10 States of India. The company’s main thrust is on small finance to ensure rural development, self-employment and women-empowerment. The small credit division offers loans from Rs. 10,000 to Rs. 2,00,000 through the individual lending model providing unsecured loans to entrepreneurs for agri and non-agri purposes and the group lending model provides unsecured loans to borrower groups for dairy, poultry, farming, handicrafts etc. For more information about the company please visit: www.paisalo.in