back Back

Karnataka Bank & Clix Capital to offer MSME loans on the Yubi Platform

By Gloria Mathias

January 29, 2024

  • business loans
  • Business Loans Solutions
  • Clix Capital
Share

Karnataka Bank, Fintech news, Clix Capital, Yubi, Co-lending, MSME Loans, Fintech News India, Colend, SME Solutions, Loans Management, India, Karnataka Bank (KBL), a private sector bank, and Clix Capital, one of India’s growing new-age NBFCs, have entered a strategic digital co-lending partnership through the 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 on co-lending by banks and NBFCs to priority sectors.

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

Speaking on the collaboration, Srikrishnan H, Managing Director & CEO of Karnataka Bank said, “Our co-lending partnership with Clix Capital will focus on digital credit to MSMEs with superior product and service offerings through our wide network of branches. By this arrangement, much-needed liquidity at affordable rates for the MSME sector will become a reality. Clix Capital and Karnataka Bank will jointly address the MSME’s requirements, adding impetus to the micro-credit facilities segment, keeping in mind sustainable economic growth for the country.”

Sekhar Rao, Executive Director of Karnataka Bank, stated, “The tie-up shall leverage technology and digital solutions to seamlessly extend a wide range of financial products to the MSME sector.”

Rakesh Kaul, CEO of Clix Capital said, “We at Clix Capital feel elated as we sign this co-lending agreement with Karnataka Bank. With this partnership, we will bring to the table our tech prowess and agility to understand and underwrite segments that largely remain underserved. Our joined forces will harness robust networks to reach a broader audience. Our efforts, along with Karnataka Bank, will empower the MSME to fulfil their aspirations of seeking seamless and affordable business loans to grow.”

Previous Article

January 29, 2024

GFT Technologies acquires Sophos Solutions from Advent International

Read More
Next Article

January 29, 2024

The Monday Roundup: what we are watching this week | January 29th

Read More








IBSi Daily News Analysis

Fraud

February 23, 2024

business loans

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Intellect unveils ‘First Principles’ technology suite, eMACH.ai, for bankers in the Middle East and Africa

Read More

Today

FinTech Focus: Catch latest developments of the week

Read More

Today

UNIPaaS unveils AI payment assistant solution for SaaS platforms

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023