SBI selects Paisalo as its National Corporate Business Correspondent

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  • Paisalo Digital Limited has informed that the State Bank of India has selected the Company as National Corporate Business Correspondent of the Bank for financial inclusion by providing banking services through kiosks.
  • In this regard signing of the Service Level Agreement and other formalities shall be done shortly.
  • Under this engagement as Business Correspondent (BC) the Company shall extend its services and its reach to the general public including its customers.
  • It will also help to improve the value and volume and customer experience of the Company’s already up and running fully digital small loan business under SBI loan Co-origination with the Bank.
  • This engagement will help Company to increase share of fee/service income in total income in future.
  • Santanu Agarwal, Deputy CEO, Paisalo Digital, shares, “Paisalo is tapping into the Rs 8 lakh crore market opportunity of small ticket loans for India’365 million unbanked population. This engagement will help us increase share of fee and service income in total income in future.
  • Coupled with Fully Digital SBI-Paisalo Loan Co-Origination Scheme, Paisalo will achieve its target of creating a seamless banking solution for India’s Bottom of Pyramid Population.”
  • On Sensex, at around 12:30 PM, Paisalo Digital was trading at Rs672.50 per piece higher by 1.86% on Sensex.

•             Source : www.indiainfoline.com

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