Edelweiss Financial Services’ subsidiary — ECL Finance and Central Bank of India (CBI), one of India’s largest commercial banks, have signed an agreement for Priority Sector Lending to Micro, Small and Medium Enterprise (MSME) customers. The partnership comes after the Reserve Bank of India announced the progressive Co-Origination Policy in September 2018, allowing banks and NBFCs to co-lend to a wider set of enterprise owners.
With this alliance, Edelweiss and Central Bank of India, aim to create a conducive lending environment and democratise access to credit. For Central Bank of India, this partnership significantly raises its lending profile in the priority sector, through efficient risk mitigation.
Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments – agency business and holding company activities.