PNB and PAISALO to enable MSME segment and Women Entrepreneurs with Small Ticket Size Income Generation Loans

With a vision of empowering the AGRI, Allied AGRI, MSME Segment, Women Entrepreneurs and Small Businesses, Paisalo Digital Limited on Tuesday signed Co-lending loan agreement with Punjab National Bank.

This agreement is in conformity with the latest RBI circular on Co-lending of loans as releasedon 05 November 2020.

PNB-Paisalo Co-lending platform will leverage on PNB's low cost of funds on the liability side and Paisalo'sorigination and rule engine underwriting capabilities on the asset side, with the help of end-to-end digital platform for sourcing, servicing, and recovery of small ticket income generation priority sector loans.

Santanu Agarwal, Deputy CEO, Paisalo Digital Limited, shares, "Paisalo seeshuge opportunity and is well positioned to capitalize on the huge Rs 8lakh crore market of small ticket loans for our 365 million of under banked and under serviced population. PNB-Paisalo Co-Lending Product is a big step forward towards Paisalo's goal of creating the most competitive seamless banking solution for India's Bottom of Pyramid Population."

Shares of Paisalo Digital Limited was last trading in BSE at Rs. 673.90 as compared to the previous close of Rs. 826.05. The total number of shares traded during the day was 22076 in over 1839 trades.

The stock hit an intraday high of Rs. 816.35 and intraday low of 660.85. The net turnover during the day was Rs. 14964774.00.

Shares of Punjab National Bank was last trading in BSE at Rs. 36.75 as compared to the previous close of Rs. 38.00. The total number of shares traded during the day was 6147331 in over 21614 trades.

The stock hit an intraday high of Rs. 37.65 and intraday low of 35.95. The net turnover during the day was Rs. 225729167.00.

Source : Equity Bulls

Keywords

PaisaloDigital 3INE420C01042 PunjabNationalBank INE160A01022 PNB Colending LoanAgreement MSME