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Central Bank of India enters co-lending partnership with Mamta Projects pvt ltd

January 12, 2023

Central Bank of India enters co-lending partnership with Mamta Projects pvt ltd
Central Bank of India has entered into a strategic Co-Lending Partnership with Mamta Projects Private Limited (MPPL) to offer MSME loans to Borrowers at competitive rates, subject to compliance with the applicable law(s) including the applicable guidelines issued by Reserve Bank of India (RBI). The participation by both the entities in this Co-Lending arrangement will result in greater expansion of portfolio by Central Bank of India and Mamta Projects Private Limited.

Mamta Projects Private Limited is a new-age, tech and risk-analytics focused lending institution. MPPL is an RBI regulated non-banking financial company and its business verticals include MSME Lending, Education Loans, Personal Loans and Anchor based Financing. MPPL’s lending approach is based on domain expertise, alternate data driven riskanalytics combined with a cutting-edge tech architecture acting as the backbone for the company’s full suite of functions and processes. MPPL’s AUM as on March 2022 stood at INR 272 Cr.

Under this arrangement, Mamta Projects Private Limited will originate and process MSME Loan proposals under Priority Sector as per jointly formulated credit parameters and eligibility criteria and Central Bank of India will take into its books 80% of the MSME Loans under Priority Sector under mutually agreed terms. MPPL will service the loan account throughout the life cycle of the loan. The Co-Lending arrangement is expected to help both the entities to offer convenient experience and customer delight to their customers as well as help expand their reach across India.

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