large scale image
LCP Image

Back to TSCFM News

Bank of India launches Centralised pool buy-out & co-lending cell

June 28, 2023

Bank of India launches Centralised pool buy-out & co-lending cell
Bank of India has launched a ‘Centralized Pool Buy-Out and Co-Lending Cell’ to boost priority sector lending. 

The Cell, which is housed in the Bank’s Mumbai headquarters, will be equipped with an end-to-end digital underwriting system to onboard pool buy-out and co-lending of loans in partnership with NBFCs (non-banking finance companies), per the public sector bank’s statement.
 
Through this platform, seamless integration will be provided between the Bank and multiple NBFCs.
 
The Cell will onboard loan assets under Retail, MSME and the Agriculture segment with a dedicated team, the Bank said.
 
So far, the Bank had been underwriting the aforementioned loans via various branches spread across the country.
 
Rajneesh Karnatak – MD & CEO, Bank of India, said: “Our Bank will build a sizeable business book through its digital platform while complying fully with all the regulatory guidelines.
 
“By leveraging our partnerships with NBFCs, Bank of India will improve its priority sector lending portfolio.”
Important Links:

Recommended for you ...

Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services
Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services

February 12, 2024

Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices
Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices

February 12, 2024

Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices
Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices

February 12, 2024

Enquire Now
REQUEST A CALLBACK
Chat on WhatsApp