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SBI Signs SLA with Paisalo Digital for engagement as National Business Correspondent

Posted On: 2021-09-27 17:21:39 (Time Zone: IST)

State Bank of India has today signed a Service Level Agreement with Paisalo Digital Limited National Corporate Business Correspondent of the Bank for promoting financial inclusion by providing banking services through kiosks.

Towards this objective of promoting financial inclusion and increasing the outreach, Paisalo Digital shall extend its services and reach to the vast under serviced segments of the market, specially in semi urban and rural parts of India.

As a national business correspondent for State Bank of India, PaisaLo will focus on building greater synergies and a more aggressive roll out of their already up and running fully digital small loan business under SBI Paisalo Loan Co-origination.

Santanu Agarwal, Deputy CEO, Paisalo Digital, shares, "Paisalo sees huge opportunity and is well positioned to capitalise on the huge Rs 8 lakh crore market of small ticket loans for our 365million of under banked and under serviced population. This engagement will besides promoting greater synergies and enabling a faster rollout of our joint digital lending products also help increase Paisalo's fee and service income in future. Together with our Fully Digital SBI-Paisalo Loan Co-Origination Scheme this is a big step forward in Paisalo's goal of creating the most competitive seamless banking solution for India's Bottom of Pyramid Population."

Shares of State Bank Of India, was last trading in BSE at Rs. 446.2 as compared to the previous close of Rs. 440.8. The total number of shares traded during the day was 976555 in over 17364 trades.

The stock hit an intraday high of Rs. 450.35 and intraday low of 442.45. The net turnover during the day was Rs. 436559981.

Shares of PAISALO DIGITAL LIMITED was last trading in BSE at Rs. 885.75 as compared to the previous close of Rs. 837.55. The total number of shares traded during the day was 7929 in over 738 trades.

The stock hit an intraday high of Rs. 900 and intraday low of 844.8. The net turnover during the day was Rs. 7029197.

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