State Bank of India (SBI) and M&M Financial Services have signed co-lending agreement

Current Context: M&M Financial Services has entered into a co-lending partnership with the State Bank of India (SBI) to offer affordable solutions to the NBFC’s customers.

• This is Mahindra Finance’s first co-lending tie-up with a bank.
• The pact will harness the distribution strength of Mahindra Finance and the cost-efficient capital of SBI, ensuring wider outreach and better interest rates for customers, which will be determined based on the customer’s credit profile.
• This will help unlock the potential of priority sector lending and ensure a “personalised and competitive financing experience”.
• The objective is to extend joint financial support to customers thereby enabling credit to the unserved segments of the economy at an affordable cost.
• Under this agreement, the NBFC will facilitate leads and manage loan servicing while serving as a single point of contact for prospective customers.

Question:

Q.1 Who has M&M Financial Services entered into a co-lending partnership with?
a. HDFC Bank
b. ICICI Bank
c. State Bank of India (SBI)
d. Axis Bank