SBI signs first co-origination loan agreement with Paisalo Digital

To empower AGRI, MSME segment and small businesses, the State Bank of India (SBI) has signed the first co-origination loan agreement with PAISALO Digital Limited. It is the first agreement of its kind in the country that SBI has signed. This will introduce a platform for the last mile customer. Here, the loan ticket is designed at Rs 10,000 to Rs 2 lakh. The company expects to disburse 200,000 loan applications in FY20. The move is to enable the customers to reach with ease and use the platform for smooth loan disbursal and repayment easily. PAISALO Digital Ltd is a systemically important non-deposit taking NBFC registered with the Reserve Bank of India and has been in operations since 1992.