Bank of India ties up with IKF Finance Limited for Co-Lending

Bank of India (BOI), a premier public sector bank has entered into a co-lending arrangement for Commercial Vehicle Loans with Vijayawada based NBFC "M/s. IKF Finance Limited"(IKF). The disbursement under Co-Lending arrangement has commenced on 9th March 2022.

Co-Lending is introduced by RBI to increase the credit flow to the unserved and underserved sector by utilizing the nimble footed coverage of NBFC to informal sector. Thus, BOI will leverage the reach of NBFC to build MSME portfolio.

Shares of Bank of India was last trading in BSE at Rs. 48.45 as compared to the previous close of Rs. 48.10. The total number of shares traded during the day was 825032 in over 3981 trades.

The stock hit an intraday high of Rs. 50.30 and intraday low of 47.15. The net turnover during the day was Rs. 40666592.00.

Source : Equity Bulls

Keywords

BankofIndia INE084A01016 CoLendingAgreement CommercialVehicleLoans Vijayawada IKFFinance