Ambit Finvest, the non-banking financial company arm of Ambit Group, on Tuesday said it has partnered with DCB Bank to co-lend loans to micro, small and medium enterprises.
This collaboration marks the fourth co-lending alliance for Ambit Finvest, following similar partnerships with Union Bank of India, SIDBI and Central Bank of India, it said in a statement.
The arrangement is in line with the Reserve Bank of India's co-lending framework, which seeks to leverage the combined strengths of banks and NBFCs to boost credit flow to the priority sector, it added.
"This strategic alliance will enable Ambit Finvest to leverage DCB Bank's robust balance sheet to offer secured business loans at more competitive, blended interest rates.
"Through this partnership, we aim to reach a wider segment of MSMEs, many of whom continue to face challenges in securing adequate credit," Sanjay Agarwal, Chief Executive Officer of Ambit Finvest, said.
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