Chandigarh, August 30, 2024: Shree. Surender Rana DMD (ASF), SBI inaugurated State Bank of India’s first co-lending CPC at Nariman Point, Mumbai. The CPC is a dedicated unit for co-lending business of NBFCs.

The inauguration ceremony witnessed the presence of SBI dignitaries, Shree. Shantanu Pendsey CGM (ABU & GSS) and Smt. Salila Pande CGM MMR. Other dignitaries from the corporate centre and NBFC teams of NIDO Home Finance and Ugro Capital Ltd. were present as well.

The inauguration of co-lending CPC is a step towards demonstrating SBI’s commitment to growing its co-lending book with a focus on safety and sustainability.

This commitment is in line with SBI's ongoing efforts to support MSMEs and the under-served population where the bank has made significant strides in FY24. To strengthen support to MSMEs having little or no access to formal credit, SBI has entered into a co-lending agreement with 9 NBFCs. Further, to dedicatedly continue reaching out to the unserved and under-served populace, the bank has signed MoUs with 23 NBFCs/HFCs under co-lending model.

The inauguration of the co-lending CPC reflects SBI’s determination to grow the co-lending book in a safe way and reiterates the bank’s dedication towards welfare of MSMEs and under-served population.