Karnataka Bank (KBL) has entered into a Co-Lending arrangement with Satin Creditcare Network (SCNL), a leading NBFC - Micro Finance Institution (MFI) registered with the Reserve Bank of India, to provide financial support to Joint Liability Groups (JLG) of economically active women in both rural and semi-urban areas and to give impetus to the micro credit facilities segment of the country.
In line with the Reserve Bank of India’s guidelines on Co-lending by banks and NBFCs to Priority Sector to improve the flow of credit to unserved and underserved segments, the arrangement will leverage Karnataka Bank’s low cost of funds and end-to-end digital capabilities of KBL and Satin through Yubi platform for co-lending, to help the sourcing, servicing and recovery of small-ticket income generation priority sector loans.
Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.
