Bank of India Launches Centralised Pool Buy-Out and Co-Lending Cell in Mumbai

Current Context: Bank of India’s ‘Centralized Pool Buy-Out and Co-Lending Cell’, this is a new platform that the bank has launched to boost its priority sector lending by partnering with NBFCs (non-banking finance companies) .

• The Cell was inaugurated by Shri Rajneesh Karnatak – MD & CEO on 26 June 2023 in Mumbai. The Cell will provide seamless integration between the bank and multiple NBFCs, focusing on retail, MSME, and agriculture loans .
• The Cell will also have an end-to-end digital underwriting system to onboard pool buy-out and co-lending of loans in partnership with NBFCs .
• The bank hopes to build a sizeable business book through this platform while complying fully with all the regulatory guidelines.

Question:

Q.1 When did Bank of India launch its ‘Centralized Pool Buy-Out and Co-Lending Cell’ in Mumbai?
a. 26 June 2023
b. 27 June 2023
c. 28 June 2023
d. 29 June 2023