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BOM signed Co-Lending Agreement with LoanTap Credit Products

Published on February 10, 2021
Current Context: The Bank of Maharashtra signed a co-lending agreement with LoanTap Credit Products, which is the Pune based NBFC.
BOM signed Co-Lending Agreement with LoanTap Credit Products
  • The co-lending agreement was signed with an aim to offer credit support to MSME loans.
  • Under this co-lending agreement, the bank will have an exposure of up to 80% and the rest will be borne by the LoanTap.
  • The co-lending is introduced by RBI in order to boost the credit flow in the unserved and underserved sector by making funds available to the ultimate beneficiary at an affordable cost.
  • The co-lending model also proves beneficial to NBFCs having wider outreach and customers.
  • This partnership between Bank of Maharashtra and LoanTap Credit Products will help in providing ease of loan sanctions at borrower's convenience through digital lending platforms in a timely manner.
  • Static Part: 
    • HQ of Bank of Maharashtra: Pune
    • Tagline of Bank of Maharashtra: One Family One Bank

Question: 

Q.1 Which bank signed a co-lending agreement with LoanTap Credit Products with an aim to offer credit support to MSME loans?
a. Canara Bank
b. Bank of India
c. Bank of Maharashtra
d. Union Bank of India
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