State Bank of India (SBI) has entered into a strategic co-lending partnership with Muthoot Microfin. Muthoot Microfin aims to extend its financial services to women entrepreneurs in rural and semi-urban regions across India.
Under the agreement, Muthoot Microfin and SBI will co-lend to members of Joint Liability Groups (JLGs) who are engaged in agricultural and allied activities as well as other income-generating enterprises. The loan amounts will range from a minimum of Rs 10,000 to a maximum of Rs 3 lakh.
State Bank of India is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
