Latest Banking jobs   »   Debt marketplace Yubi partners with SBI...

Debt marketplace Yubi partners with SBI to enable co-lending to priority sectors

Debt marketplace Yubi partners with SBI to enable co-lending to priority sectors: The State Bank of India (SBI) and Yubi have teamed up to expand the bank’s co-lending portfolio. SBI will be connected with Yubi Co.Lend, a marketplace for co-lending that allows lenders to work with numerous partners and distribute joint loans to the priority sector.

Benefits of Yubi’s co-lending platform

  • As per the Yubi. Co.Lend website, the platform has so far disbursed loans of more than Rs. 5,000 crores. It has more than 500 partners and more than 10 lakh retail customers.
  • The strategic alliance’s goal is to enable seamless and speedier loans to the priority sector, lowering the country’s credit gap in the process.
  • In accordance with the agreement, Yubi Co.Lend will help SBI expand its co-lending business by helping it work with a wide range of non-banking financial organizations (NBFOs), housing finance organizations (HFCs), and fintech. Additionally, Yubi will develop, oversee, and manage SBI’s co-lending portfolio.
  • To improve the user experience, the platform will also guarantee complete compliance. SBI can select its co-lending partners, develop its co-lending product line, and electronically manage operations using Yubi’s co-lending platform.
  • The end-to-end co-lending infrastructure that Yubi has built using technology will help them diversify their loan portfolio across asset classes. Through this agreement, $1 trillion in the capital could be made available for lending in priority sectors to tier 2, tier 3, and tier 4 cities, small businesses, and farmers.
  • A framework for collaboration between two financial institutions, such as a bank and an NBFC, to jointly fund the client’s needs is provided by co-lending. With this arrangement, a bank’s low-cost funding is combined with an NBFC’s local expertise in sourcing and customer care.

Yubi

  • Yubi is an integrated credit platform that offers a wide range of products to address every step of the debt lifecycle.
  • By facilitating the free exchange of funds between borrowers, lenders, and investors, Yubi is redefining global debt markets.

State Bank of India (SBI)

  • State Bank of India (SBI) is a public sector banking and financial services statutory body of India. It is also a Fortune 500 business.
  • Headquarters: Mumbai
  • Tagline: “Pure Banking, Nothing Else
  • Founded on: 1 July 1955
  • Chairperson: Dinesh Kumar Khara

Debt marketplace Yubi partners with SBI to enable co-lending to priority sectors_50.1

RBI governor launches three key digital payment initiatives at Global Fintech Fest 2022 AIBD Unanimously Extends India’s Presidency For One More Year
Dharmendra Pradhan starts SCALE App for Skill Development in Leather Industry Asian Development Bank cuts India’s GDP forecast to 7% for FY23
G4 Countries Demand to Reform UNSC UCO Bank becomes the first lender to get RBI’s approval for rupee trade
Samsung India, Axis Bank Launch Co-branded Credit Card powered by Visa
Education Minister Dharmendra Pradhan inaugurates 13th FICCI Global Skills Summit 2022

Download your free content now!

Congratulations!

Debt marketplace Yubi partners with SBI to enable co-lending to priority sectors_80.1

Download Hindu Review of October 2021: Free PDF

Download your free content now!

We have already received your details!

Debt marketplace Yubi partners with SBI to enable co-lending to priority sectors_90.1

Please click download to receive Adda247's premium content on your email ID

Incorrect details? Fill the form again here

Download Hindu Review of October 2021: Free PDF

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *