Canara Bank has disbursed Rs 75 crore as term loan for 5 years to Paisalo Digital inter alia for onward lending. This disbursement will help the Company to achieve its growth plans. Earlier, the company had entered into a Co-Lending Loan Agreement with Karnataka Bank.
Paisalo Digital is a leading systemically important Non-Deposit taking NBFC registered with the Reserve Bank of India (RBI), in operation since 1992. The company’s main thrust is on small finance to ensure rural development, self-employment and women-empowerment.