Bank of India (BOI), a premier public sector bank has entered into a co-lending arrangement for Commercial Vehicle Loans with Vijayawada based NBFC “M/s. IKF Finance Limited”(IKF). The disbursement under Co-Lending arrangement has commenced yesterday.
Co-Lending is introduced by RBI to increase the credit flow to the unserved and underserved sector by utilizing the nimble footed coverage of NBFC to informal sector. Thus, BOI will leverage the reach of NBFC to build MSME portfolio.