Edelweiss Financial Services’ arm, SBI sign Co-Origination agreement

Edelweiss Financial Services’ subsidiary -- ECL Finance and State Bank of India (SBI) have signed a Co-Origination agreement to increase access to credit for Micro, Small and Medium Enterprises (MSMEs).

Pursuant to Reserve Bank of India’s (RBI) guidelines on co-origination of loans by banks and NBFCs, the alliance aims to leverage combined reach in tier II and tier III markets to ensure timely disbursal of credit to MSMEs.

Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments - agency business and holding company activities.