KARNATAKA BANK AND CLIX CAPITAL ENTER INTO CO-LENDING PARTNERSHIP THROUGH YUBI PLATFORM.

Karnataka Bank Ltd.,a leading Private sector Bank and Clix Capital,one of India's fastest growing new age NBFC's have entered into a strategic digital co-lending partnership through Yubi Co.lend platform.This partnership is focused on providing loans to the Indian MSME sector which is one of the biggest contributors to India's GDP and employment growth.The agreement is in line with the Reserve Bank Of India's guidelines and co-lending by banks and NBFC's to priority sectors.  

This partnership combines Karnataka Bank's low cost of funds end to end digital capabilities & expertise to offer credit facilities to this segment along with Clix Capital's strong & easy lending platform and robust due diligence.The partnership aims to provide seamless fencing solutions, conveniently and economically in digital manner,thereby enabling both the partners to draw upon each other's strengths to serve the unserved.The agreement was signed in Bengaluru today.

Speaking on the collaboration,Mr.Srikrishnan H, Managing Director &CEO,Karnataka Bank said,"By this arrangement,the much needed liquidity at affordable rates for the MSME sector will be a reality.Clix Capital & Karnataka Bank will jointly address the MSME's requirements adding impetus to the micro credit facilities to this segment keeping in mind the sustainable economic growth for the country".

Mr.Rakesh Kaul,CEO,Clix Capital Said," Our efforts along with Karnataka Bank will empower the MSME to fulfil their aspirations of seeking seamless &affordable business loans to grow.With this partnership,we will bring to the table our tech prowess,and agility to understand and underwrite segments that largely remain underserved".

Mr.Sekhar Rao,Executive Director,Karnataka Bank,said," the tie up shall leverage technology & digital solutions to seamlessly extend wide range of financial products to MSME sector".

Karnataka Bank is celebrating their centenary year this year.