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Thursday, September 29
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Karnataka Bank partners with Yubi for Co-lending with NBFCs through Yubi Co.Lend Platform

Karnataka Bank partners with Yubi for Co-lending with NBFCs through Yubi Co.Lend Platform


Mangalore Today News Network

Mangaluru, Aug 03, 2022: Karnataka Bank has entered into an arrangement with Yubi for co-lending via the Yubi Co.Lend, India’s co-lending platform. This collaboration will allow bank to digitally onboard various NBFCs, to lend significant amount of money and onboard a larger customer base as a result of their better consumer outreach.


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Speaking on the occasion, Shri Mahabaleshwara M.S, Managing Director & CEO, Karnataka Bank, said, “The digital Co-lending platform would enable Karnataka Bank and our NBFC partners to effortlessly integrate and lend to borrowers with faster turnaround time. With the Bank focusing on co-lending, we feel that this relationship with Yubi will assist us in onboarding various NBFCs and ensuring last mile connection for Bank in places where we have no reach”.

Gaurav Kumar, Founder and CEO, Yubi, said, "At Yubi, our aim has always been to lead the curve when it comes to facilitating the flow of credit to the under-served through technology. Through this partnership, Karnataka Bank will gain access to a large number of financial institutions across sectors. We mutually aim to provide credit to the underserved sectors and accelerate financial inclusion in the country through this partnership."

Present on the occasion were Shri. Balachandra Y V, Chief Operating Officer, Shri. Gokuldas Pai, Chief Business Officer, General Managers & other Executives of Karnataka Bank and executives of Yubi (formerly known as CredAvenue Pvt Ltd).


Karnataka Bank partners with SCHWING Stetter India Pvt Ltd for financing construction equipment


Karnataka Bank signed a Memorandum of Understanding (MOU) with SCHWING Stetter India Pvt Ltd, one of India’s major construction equipment manufacturers. The collaboration with SCHWING Stetter is expected to broaden the Bank’s MSME financing prospects.

 

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This MoU will allow both SCHWING Stetter and Karnataka Bank to provide consumers with customised financial solutions. With this development, the bank will be designated as a financial partner and will be able to meet the needs of its customers by providing loans at competitive interest rates for the purchase of a wide range of construction equipment.

Speaking after signing the MoU, Shri Mahabaleshwara M.S, Managing Director & CEO, Karnataka Bank, said, “In keeping with our focus on credit expansion, the Bank is at the forefront of funding MSMEs, and we are delighted to have signed an agreement with SCHWING Stetter, who share similar principles of excellence, integrity, and long-term development. Our bank offers numerous financing solutions for the acquisition of equipment to our customers, with competitive rates of interest and quick loan approvals through digital platform. Karnataka Bank is firmly devoted to providing attractive finance schemes through such arrangements.”

Commenting on the partnership, Mr. V G Sakthi Kumar, Managing Director, SCHWING Stetter India Pvt Ltd said, “SCHWING Stetter has built capacity for manufacturing concrete machines like Plant, Pumps, Mixer and Self-Loading Mixer. Apart from this, now it offers the entire range of construction machineries like Piling Rigs, Crawler Cranes, Terrain Cranes, Hydraulic Excavators, Loaders, Graders & Horizontal Directional Drilling machine. With huge Investments in Infrastructure, we hope our association with Karnataka Bank will help the Bank’s customers to easily acquire machines built with the best technology, in the state-of-the-art manufacturing facility with futuristic and digitalised solutions for construction industry”

Present on the occasion were Shri. Balachandra Y V, Chief Operating Officer, Shri. Gokuldas Pai, Chief Business Officer, General Managers & other Executives of Karnataka Bank and executives of SCHWING Stetter India Pvt Ltd.


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