U GRO Capital, a non-bank financier, and state-owned Bank of Baroda have partnered for co-lending to the micro, small and medium enterprise (MSME) sector. Under the co-lending programme Pratham, Bank of Baroda and U GRO will together disburse loans worth Rs 1,000 crore to MSMEs. The aim is to dispense the entire amount by the end of this financial year. The loan amount ranges from ₹50 lakh to ₹2.5 crores to be offered at an interest rate starting from 8% with a maximum tenure of 120 months.
The programme is accessible to MSMEs across U GRO’s over 200 channel touchpoints around nine locations in Delhi, Jaipur, Ahmedabad, Pune, Mumbai, Bengaluru, Chennai, Hyderabad, and Kolkata.
Important takeaways for all competitive exams:
- Bank Of Baroda Headquarters: Vadodara, Gujarat, India;
- Bank Of Baroda Chairman: Hasmukh Adhia;
- Bank Of Baroda MD & CEO: Sanjiv Chadha;
- U GRO Capital’s Managing Director: Shachindra Nath.