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Central Bank of India (CBoI) has entered into a strategic co-lending partnership with Dhanvarsha Finvest Ltd (DFL) to offer loans against gold ornaments under priority sector to Micro, Small and Medium Enterprise (MSME) borrowers at competitive rates.
Under this partnership, DFL will originate and process loans against gold ornaments as per jointly formulated credit parameters and eligibility criteria and CBoI will take into its book 80 per cent of the gold loans under mutually agreed terms, as per the public sector bank’s stock exchange filing.
DFL will service the loan account throughout the life cycle of the loan.
The participation by both the entities in this co-lending arrangement will result in greater expansion of portfolio by CBoI and DFL, the Bank said.
Dhanvarsha Finvest is a BSE-listed non-banking finance company providing credit to the MSME sector. It has branches in Maharashtra, Delhi NCR and Madhya Pradesh.
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