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U GRO Capital partnered with Bank of Baroda

Published on July 23, 2021
Current Context: The non-bank financier named U GRO Capital has entered into a partnership with the Bank of Baroda.
U GRO Capital partnered with Bank of Baroda
  • They have collaborated for co-lending to the MSME sector of India at the competitive rate of interest and reduced turnaround time.
  • They have partnered on the occasion of 114th Foundation Day of Bank of Baroda.
  • Under this partnership, the programme called ‘Pratham’ was launched which aims to grant loans for over Rs 1000 crore.
  • The loan amount ranges from Rs 50 lakhs to Rs 2.5 crore. The interest rate associated is with the starting from 8% and maximum tenure of 120 months.
  • The Pratham programme is based on minimum documentation and approves the loan within an hour.
  • The programme will be beneficial to a wide range of MSMEs, wholesale and retail traders under the priority sector.
  • The co-lending is in line with RBI’s revised Co-lending model.
  • Static Part: 
    • HQ of Bank of Baroda: Vadodara, Gujarat
    • MD and CEO of Bank of Baroda: Sanjiv Chadha
    • Tagline of Bank of Baroda: India’s International Bank
    • HQ of U-GRO Capital: Mumbai

Question: 

Q.1 With which bank has U GRO Capital partnered for co-lending to the MSME sector of India and launched ‘Pratham’ co-lending programme under the partnership?
a. Canara Bank
b. Axis Bank
c. State Bank of India
d. Bank of Baroda
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