New Delhi, January 16: Karnataka Bank (KBL), a leading private sector bank and Clix Capital, one of India's fastest growing new-age NBFCs, have entered into a strategic digital co-lending partnership through YubiCo.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 RBI's guidelines on co-lending by banks and NBFCs to priority sectors. ChatGPT-Developer OpenAI Outlines Plan To 'Combat Misinformation' and 'Focus on Promoting Transparency' Ahead of 2024 Elections.

The partnership combines Karnataka Bank's low cost of funds, end-to-end digital capabilities and expertise to offer credit facilities to this segment along with Clix Capital's strong and easy lending tech platform and robust due diligence. Apple Becomes Leader of Global Smartphone Industry in 2023, Drives All-Time High 20.1% Market Share: Report.

The partnership aims to provide seamless financing solutions, conveniently and economically in a digital manner, thereby enabling both the partners to draw upon each other's strengths to serve the unserved. The agreement was signed in Bengaluru on Tuesday.

(The above story first appeared on LatestLY on Jan 16, 2024 03:55 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).