Money & Banking

NBFC Agriwise Finserv partners Central Bank of India for agri loan disbursals

Our Bureau | | Updated on: Nov 30, 2021
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Co-lending pact between Agriwise Finserv and Central Bank of India seeks to disburse agri loans speedily

Agriwise Finserv Limited, an agri-focussed NBFC, has entered into a co-lending agreement with Central Bank of India for agri-loan disbursal.

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The co-lending agreement will ensure that the farmer, agri and allied community get finance at affordable rates in a simple, transparent and speedy manner. The loan will be disbursed at a blended interest rate, as per the RBI directive on co-lending of loans, the company said in a statement.

Agriwise to enlarge portfolio

Kalpesh Ojha, Chief Financial Officer, Agriwise, said, “It is a matter of great pride and prestige to partner with Central Bank of India in our journey towards sustainable financial solutions in rural India. We are committed to enlarging our portfolio to under-served and un-served rural customer segments and increasing our offerings to our current customers. We wish to leverage partnerships that bring together our strength of reach and customer insights with the banks lower cost of funds. In parallel, our strong technology backbone is helping us capture unique customer insights to deliver our product and solutions in a seamless, transparent and fair manner.”

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Central Bank of India focus

Rajeev Puri, Executive Director, Central Bank of India, said, “We are focussed on lending to the agriculture sector as priority sector lending is a key goal to empower our farmer community. With this tie-up, we wish to reach a larger and deeper set of customers in the rural and agri-sector. Agriwise, with its specialised knowledge and experience in dealing with agri and allied sectors, will enable us to serve a broader set of customers.”

Published on November 30, 2021

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